While Snapchat parent company Snap Inc. has yet to officially announce an initial public offering, it reportedly notified Morgan Stanley and Goldman Sachs Group that they will lead the IPO, which could take place as soon as March.
Sarah Frier and Alex Barinka of Bloomberg News reported the selections, adding that JPMorgan Chase, Deutsche Bank, Allen & Co., Barclays and Credit Suisse Group will serve as joint book runners. Snap Inc. can file its IPO documents confidentially with the Securities and Exchange Commission since its annual revenue is less than $1 billion, Frier and Barinka reported, adding that the company had a private market value of $18 billion after its last funding round.
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