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Snapchat Parent Working on IPO Valuing Firm at $25 Billion


FILE - An image of the Snapchat logo created with Post-it notes is seen in lower Manhattan, New York, May 18, 2016.
FILE - An image of the Snapchat logo created with Post-it notes is seen in lower Manhattan, New York, May 18, 2016.

Photo-sharing app Snapchat's parent is working on an initial public offering that could value the company at $25 billion or more, the Wall Street Journal reported, citing several people familiar with the matter.

Snap Inc., which operates the app Snapchat that lets users send videos and messages that disappear in seconds, is looking to sell shares as early as late March, the Journal reported.

"We aren't commenting on rumors or speculation about any financing plans," the company said in an emailed statement.

Snapchat had been talking to investment bankers about an IPO toward the end of this year or early in 2017, technology website The Information reported last month.

Reports on Snap Inc's IPO come at a time when many technology companies that went public are trading below their IPO price.

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    Reuters

    Reuters is a news agency founded in 1851 and owned by the Thomson Reuters Corporation based in Toronto, Canada. One of the world's largest wire services, it provides financial news as well as international coverage in over 16 languages to more than 1000 newspapers and 750 broadcasters around the globe.

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