According to a NEWS report, an Initial Public Offering that could value up to $25 billion was been filed by the company behind the Snapchat messaging app. In order to reveal the organizations increasing interest in new markets other than messaging platforms, Snapchat has changed its name to Snap. A video camera-equipped sunglass dubbed Spectacles were launched by the company recently. It will be easier for people to search online for its products with the name change said the company in a statement. Evan Spiegle, CEO at Snap wrote in a blog that users could have all the fun stuff while they search for Spectacles or Snapchat, while Snap will be taken care by the Wall Street crowd. The company is preparing to woo the people at Wall Street and has filed papers with the Exchange Commission and Securities recently.
The company will be valued $20 billion to $25 billion soon expects the IPO. It will be the biggest US-listed technology offering ever since Alibaba Group Holding’s $168 billion valuations in 2014 if the Snap IPO turn up at the expected valuation mentioned a report. When there is substantial angst on stock markets regarding the viewpoint after the election of Donald Trump as the next U.S. president, Snap is preparing for an IPO.