STOCK STORY

Report: Snapchat Plans IPO for Early Next Year

Snap Inc., the parent company of popular social-media app Snapchat, is reportedly working on an initial public offering that would value the company at $20 billion. According to the Wall Street Journal, Snap is aiming for a late March 2017 IPO, but that could change at any given moment. A $25 billion IPO would give Snap a value approximately $7 billion above the $18 billion valuation it was given last spring. The report of an incoming IPO came just days after the company unveiled Spectacles, its eyewear brand that will be able to record video directly to Snapchat.