Snapchat has gone rogue. The app is going public, and you, too, can soon own a share of stock for the popular social media application. The shares are proposed to become public this spring.
So how much will it cost to own a part of Snapchat? According to Business Insider, “the company is seeking to price its share sale at between $14 to $16 a share, although that could always go up (or down) before its anticipated IPO (initial public offering) on March 2.”
The matter of a set purchase price is still up in the air for the company. Potentially, a share could either be reasonably priced or expensive. Snap Inc. has considered selling shares between $14 and $16. It is also currently unclear as to what exact time the public will be able to purchase the stock, but early spring is the goal for Snap Inc.
Snap Inc. had originally been planning for a $25 billion valuation, but the price has been dropped to $19 billion. Fortune’s website says, “Snap can still raise the price of its stock offering before it goes public. Snap has already raised the ceiling on the amount it plans to raise in the IPO, from $3 billion in its first filing to $3.68 billion in its latest one.”
It is possible that before the potential March 2 release date, Snap Inc. can either raise or lower the IPO. The proposals of the IPOs could also be a way for the founders of Snapchat to lure any prospective investors to the stock, according to fortune.com.
As of now, Snap Inc.’s future in the stock market is currently a gray subject matter. However, with Snap Inc. dropping the original proposed IPO, they hope that will benefit the business venture.