Details on Snap's $25 billion IPO are expected to be revealed next week
That will change soon, probably late next week, unnamed sources told Re/Code's Kara Swisher. If true, that could mean that the actual IPO will likely occur in March, Swisher says, if Snap does a classic nine week road show pitching itself to potential investors.
This is a closely watched IPO for a few reasons. One is the sheer size of it. Sources have told Business Insider that the offering could value Snap between $20 billion and $25 billion.
Snap is also an incredibly secretive company, so the SEC prospectus documents should reveal a lot of information about the company and its business operations.
Evan Spiegel, the 26-year-old CEO and cofounder of Snap, is being pitched as the "visionary," to potential investors who may not be as familiar with the product, given that its core audience of 150 million daily users is predominantly young Millennials.