Snapchat plans IPO; no timetable given
CEO ‘has plan’ to take message service public
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.