The Los Angeles-based company released the financial details in its filing for an initial public offering on Thursday.
- The company filed for a $3 billion IPO, though that is a placeholder amount and certain to change as the company sets a price on the deal.
- In the filing, Snap disclosed that Snapchat has 158 million average daily active users as of the fourth quarter of 2016.It had annual revenue of $404.4 million in 2016, up from $58.6 million in 2015.
- It plans to list its shares on the New York Stock Exchange under the ticker SNAP.
- Snap is planning to list shares in March, and could fetch a valuation of as much as $25 billion, people familiar with the matter have said.
- Annual revenue of $404 million is up from just $58.6 million in 2015, the filings show. It grew daily active users by almost 50% in the past year.
- Still, its losses are also growing — to $514 million in 2016, from almost $373 million a year earlier.
