According to a report by Bloomberg, instant messaging app, Snapchat is reportedly planning to raise a targeted amount of US$4 billion in its initial share sale.
With this, the sale may value Snapchat higher than its initial US$20 billion valuation that it has received in its earlier funding this year, at an amount of US$25 to US$35 billion. But no final decision nor details has been made public, thus the size of the IPO may still be subjected to changes.
But despite the variations that may occur in the lead up to an IPO, the company which recently has changed its corporate name to Snap Inc. is in the process of preparing filings for a listing. It aims to sell their shares in the first quarter of next year. Earlier this month, the company has also confirmed that Snap has hired Morgan Stanley and Goldman Sachs to lead its IPO.
Additionally, as due to the company’s revenue which is less than US$1 billion, the company plans to file their IPO documents with US Securities and Exchange Commission confidentially. Snap Inc. declined to comment regarding these speculations.
But from previous records, the Los Angeles-based company after its last funding round held in May, has already reached a private market value of US$18 billion. With the ongoing plan of IPO, this would mean that Snap Inc would mark the highest social media company since Twitter Inc. sold its shares in November 2013.
By Vivian Foo, Unicorn Media
Tokyo’s Uzabase, the startup behind the corporate profile database Speeda and business news update curating app NewsPick has recently announced its IPO application has been approved by the Tokyo Stock Exchange (TSE).
Founded in 2008, Uzabase is currently working on two applications. The startup’s first app, Speeda was invented by its founding members who are bank investments experts. The app is designed to collect news update and business analysis from think tanks and provides them to finance businesses.
On the other hand, Newspick is an intuitive business news reading and sharing application. It serves the purpose of news curation and was offered back in September, 2013. The company has set NewsPick apart from other competitors through only curating news topics by notable economic news outlet.
Hence, from 21st October onward, the startup will be listed on the TSE Mother Market on Friday. Additionally, the company plans to offer 543, 000 shares for public subscription and selling 114,000 shares in over-allotment options for a total of 193,000 shares. With this, the company expects an initial market cap of 17.78 Billion yen (approximately US$177 Million).
Prior to this IPO announcement, the company has previously secured US$4.5 million from several Japanese companies and VC firms in a series C round held on the August of 2014.
For more information, please visit http://www.uzabase.com/en/
Organization: Unicorn Media
Spectacle came out not too long ago, but recently Snap, previously known as Snapchat, has landed on the headlines again with the rumored news that it is working on IPO.
The revelation was made by a Wall Street Journal report on October 6, saying that Snap is reportedly preparing for an initial public offering that could value the firm at US$25 billion or higher.
Founded in 2011 by Evan Spiegeal and Bobby Murphy, Snapchat’s valuation has grown in the last few years since the company has added advertising and sponsored contents to its messaging services.
The results from this digital advertising strategy was shown in a leaked document by Techcrunch saying that the company could make US$250 million to US$350 million revenue in 2016 while the estimated revenue noted for 2017 would be a whooping amount of US$1 billion.
This explains he IPO valued at US$25 billion which is significantly higher than Snap’s most recent valuation of US$17.81 billion, based on the financing round in May which has raised US$1.81 billion.
Accordingly, the growing social platform which boasts an ownership of 150 million daily active users plans for its IPO to take place as early as late March in 2017.
In response to this, the firm said in an emailed statement on Thursday, saying that “We aren’t commenting on rumors or speculation about any financing plans.”
Snap, formerly known as Snapchat Inc, is a camera company that develops Snapchat and Spectacles. Snapchat is a photo messaging app that allows users to take photos, record videos, add text, drawings and filters and send them to recipients which will disappear after viewing. Spectacle, on the other hand, is a video-sharing sunglasses that frees the Snapchat app from smartphone cameras.
For more information, please visit https://www.snapchat.com/
Organization: Unicorn Media