IPO

Snapchat CEO Says Company Plans to IPO

Snapchat CEO Says Company Plans to IPO

Snapchat mobile app

Image credit: Maurizio Pesce | Flickr
  • ---Shares

Snapchat CEO Evan Spiegel said on Tuesday the company plans to have an initial public offering but did not specify when that would happen.

"We have to IPO," Spiegel said during a talk at a technology conference hosted in Ranchos Palos Verdes, Calif., by technology online-only publication Re/code.

"It's just another dot on the list of things to do," Spiegel added.

In 2013, Snapchat turned down a $3 billion offer from Facebook to acquire the company. Alibaba poured $200 million into the ephemeral photo- and video-sharing app in March at a valuation of $15 billion.

(Reporting By Yasmeen Abutaleb; Editing by Ken Wills)

Latest News and Headlines from Reuters