Snap Inc. confirmed that it has set a valuation for itself of between US$19.5 billion and US$22.2 billion, as the disappearing-message app company nears its landmark initial public offering.
The valuation range, which equates to US$14 to US$16 a share, is near the low end of the range of US$20 billion to US$25 billion that Snapchat’s parent company had earlier targeted. The company and its underwriters will set a final IPO price based on feedback from investors in a roadshow that is about to begin—and it won’t necessarily be within the current range.
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