Snapchat lowers expectations on the listing on Wall Street which should take place in the coming months. The group that controls it, Snap, aims to go public with an inclusive valuation between 19,5 and 22,2 billion dollars.
The Wall Street Journal writes it, explaining that the hypothesis corresponds to an inclusive value between $14 and $16 per share, in the lower part of the range expected last month (20 and 25 billion dollars) in the presentation of documents to the Securities and Exchange Commission, the American Consob.
In the same documents, the society of disappearing cell phone messages spoke of the possibility of raise three billion dollars during the road show.
Snap's should be the largest listing of a technology stock on Wall Street from that of the Chinese e-commerce giant Alibaba, which took place in 2014.
In any case, control of the company is destined to remain in the hands of the two co-founders: Evan Spiegel and Bobby Murphy.
Founded in 2011 in a Stanford dorm, Snapchat turned into a social phenomenon: initially criticized for being just a means of "sexting", Snapchat conquered the Millennials.
“When we started, many didn't understand what Snapchat was and said it was only used for sexting, but we knew it could be used for so much more,” the company says in the prospectus.
The co-founders will begin meeting with investors in the coming weeks. The IPO is handled by Morgan Stanley and Goldman Sachs.
