Snapchat Interested In IPO

The American video messaging service, Snapchat, has decided to increase its financial resources. SnapChat news reported that the chief executive of the company, Evan Spiegel, intends to launch an initial public offering plan. He has stated that the business needs an IPO and its management has planned for raising funds through that mechanism. 

SnapChat news today informed that the founder has stated that he would not let any other business acquire his startup. The Stanford graduate has previously refused to sell the company to Facebook, which had offered to purchase the company for $3,000,000,000. Mr. Evans’s decision was not welcomed by the different sections of the digital world, as many of them called him arrogant and foolish, but the company’s progress proved that he was right.

Industry sources have reported that when correspondents asked the CEO to justify his decision to not sell the business, he simply responded by saying that he enjoyed independence. In the current situation, this ‘entity’ has been valued at $15,000,000,000.

The journalists also asked the founder about the conditions of the American digital market. He answered them by saying that the market’s bubble would soon burst. Snapchat breaking news affirmed that the organization has maintained a good financial record, as it has generated more than $800,000,000. Experts stated the view that low interest rates have contributed to the fund generation.

Company sources have revealed that the financial offering plan was proclaimed at a tech conference in Southern California. On stage, the CEO stated that he wants his communication technology to entertain his users. The objective of consuming more of user’s time justifies its decision to focus on the time spent by users on the service. He added that his service had performed in a very efficient manner, as it has successfully lured more than 100,000,000 users.

Industry sources stated that a large number of the said users are interested in sending photos or videos. The video services provider has now started to give a tough time to its rival, Facebook, as media sources have informed that the service’s users are provided access to more than 2,000,000,000 videos.

The aforementioned figure is fifty percent greater than the video views of Facebook. The service’s video views per user are also greater than the platform’s video views, as Snapchat successfully attracts 20 mobile video views per users, while its counterpart attracts four mobile views. The management of the video service provider should now devise strategies to immediately launch the business for an IPO.