FRANCHISE HERALD
Sunday July 23, 2017

updated - July 23, 2017 Sunday EDT

Snap to become biggest tech IPO since Alibaba

Mar 01, 2017 04:28 PM EST
Snap to become biggest tech IPO since Alibaba
Snap to become biggest tech IPO since Alibaba(Photo : creative common)

Snap Inc, owner of popular messaging app Snapchat, will price its initial public offering after the US stock market closes on Wednesday in the most eagerly awaited technology IPO since Chinese e-commerce giant Alibaba went public in 2014.

The pricing will be the first test of investor appetite for a social-media app beloved by teenagers and 20-somethings but which has yet to turn a profit. The company’s losses widened last year, and it is experiencing decelerating user growth in the face of intense competition from larger rivals such as Facebook.

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