Home / / Snapchat plans IPO; no timetable given

Snapchat plans IPO; no timetable given

CEO ‘has plan’ to take message service public

Snapchat plans IPO; no timetable given
Spiegel: An IPO is really important.

Message service Snapchat has a plan to go public, its chief executive said yesterday, without alluding to a specific timetable.

Spiegel made the comments during tech site Re/code's annual Code Conference in California.

"We need to IPO, we have a plan to do that," Spiegel said. "An IPO is really important."

Snapchat allows users to send videos, sketches and photos, along with text, to other users on their recipients list. The "Snaps" are kept for a user-determined amount of time and then deleted from servers, making the service popular among privacy-conscious consumers.

Snapchat spurned an advance from Facebook in 2013 to acquire the company for $3bn.

Follow us to get the most comprehensive IT business news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.