There is more speculation to report on Snapchat’s plans to go public in 2017. Bloomberg claims that the social startup is aiming to raise up to $4bn in its IPO next year, which could value the company at between $25bn and $35bn.
That’s between three and four-and-a-half Spotifys at that company’s $8bn valuation last year, or between seven-and-a-half and 11 Warner Music Groups at the (admittedly well out-of-date) $3.3bn acquisition price of the major label in 2011.
Bloomberg warned that the plans of Snapchat parent company Snap remain fluid, but that it is hoping to go public in the first quarter of 2017.
As previously reported, Snap is targeting more than $350m of revenues in 2016, up from $59m in 2015.
Bloomberg also points to the wider context of a sluggish tech-IPO market in 2016, with Snapchat possibly helping to jumpstart more public offerings next year.
A successful IPO for Snapchat could thus improve the prospects for Spotify in our industry, as it continues its own path to public status.
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