The IPO could value the company at up to $25 billion, the Wall Street Journal reported.
“Snap Inc. is a camera company. We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate,” read an excerpt of founder Evan Spiegel’s letter in the filing. “Our products empower people to express themselves, live in the moment, learn about the world and have fun together.”
The company also published a visual timeline in the filing.
Snap Inc. laid bare some of its user numbers in the filing.
“On average, 158 million people use Snapchat daily, and over 2.5 billion snaps are created every day. On average, our users visit Snapchat more than 18 times per day, and spend 25 to 30 minutes on Snapchat every day,” read a passage.
“We had 158 million Daily Active Users on average in the quarter ended 31 December 2016, an increase of 48% as compared to our Daily Active Users in the quarter ended 31 December 2015,” the company added.
What about the financial side of things? The firm revealed details here as well.
“In the year ended 31 December 2016, we recorded revenue of $404.5 million, as compared to revenue of $58.7 million for the year ended 31 December 2015, representing more than a 6x year-over-year increase.”
However, the company reported a net loss of $372.8 million in 2015 and $514.6 million in 2016.
