Snap Inc. located in Venice beach, California. The company known for it’s messaging apps Snapchat and it’s recent hardware Spectacles that allows you take a ten minute video.
The company recently plans to offer an IPO worth $25 billion March 2017. Read also: Snapchat offer IPO of $25billion Snap Inc has hired two banks Morgan Stanley (MS) and Goldman Sachs Group Inc. (GS) as underwriters for the IPO offering.
The company’s turnover for last year was $150 million and it is expected that it’s revenue will worth one billion dollars by the end of 2017.
According to Investopedia, the above mentioned banks are not the only banks involved in the IPO. Other that will participate in the offering include: JPMorgan and Chase, Deutsche Bank AG, Barclay Bank PLC and Credit Suisse Group AG. This banks will he involved as joint book runners for the IPO.