Just nine technology companies have priced U.S. IPOs this year, according to data compiled by Bloomberg, the fewest for seven years. The biggest among them, Twilio Inc., raised $172.5 million in June and has more than doubled in value since its trading debut.
The Los Angeles-based company makes an application for sharing selfies and videos, watching news videos and chatting with friends. After its last funding round, Snap’s private market value reached $18 billion, meaning that its IPO would be the biggest of a social media company since Twitter Inc. sold shares in November 2013.
Snapchat has pioneered some new forms of advertising, too — like sponsored lenses, the different filters that go on top of people’s selfies, designed by brands. Snap aims to generate more than $350 million in advertising revenue this year, up from $59 million in 2015.”
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