Snap Aims for Valuation of More Than $20 Billion IPO

Xiang Qi

The company, Snap Inc., disclosed on Thursday that it expected to be valued at as much as $22.2 billion in the sale. Snap would be worth $20.9 billion at the midpoint of the offering’s range of $14 to $16 per share. The final pricing of the new shares as well as the company’s valuation could still change as it is expected begin trading around March 2 on the NYSE.

The road show before IPO began this Thursday as three of Snap’s top executives, Evan Spiegel, Imran Khan and Andrew Vollero, joined its underwriters to pitch investors on the most highly anticipated IPO so far this year. From its beginning in a Stanford dorm room six years ago, Snapchat has become the brightest star in the technology world.