Snapchat owner files for a $3 billion IPO

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Five years after the launch of Snapchat, Snap is planning to go public. The company filed for an initial public offering on the New York Stock Exchange today, picking the ticker symbol “SNAP.” The company hopes to raise $3 billion and says it has 158 million daily active users. The app was launched in 2011 by former Stanford University students Evan Spiegel and Bobby Murphy.
Read more at The Verge

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