Snapchat’s parent company Snap has filed for its long-awaited IPO, although for now financial data about the company remains under wraps. That’s because it has taken advantage of US legislation that enables companies with less than $1bn of annual revenues to file to go public without initially disclosing the full details of their business. Twitter did a similar thing when it went public, and as in that case, we will get to pore over Snapchat’s financials once it publishes a prospectus for investors. Reuters reported that the IPO could happen as soon as March and value Snapchat at between $20bn and $25bn – note, less than previous claims that the IPO could go as high as $35bn. There’s an interesting titbit in the report too: earlier this month, a venture capital fund called CapitalG revealed that it had invested in Snapchat. What’s CapitalG? The fund formerly known as Google Capital: a subsidiary of Google’s parent company Alphabet. Google was famously knocked back by Snapchat when it made a $4bn acquisition offer in 2013, shortly after Facebook had also failed with a bid of $3bn.

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