Snapchat files for IPO as $SNAP — looks to raise $3 billion

Snapchat, err Snap Inc., just made the papers for its long-awaited initial public offering appear. 

The ephemeral mobile storytelling app is going public, a move that will raise $3 billion and open up the books of the secretive company. No valuation for the company as a whole is mentioned, but the company is predicted to still be one of the biggest tech IPOs ever. Back in 2012, Facebook was seeking a valuation of $5 billion. 

The filing offers one of the biggest concrete indicators of Snapchat's business. It brought in $404 million in 2016, up from $58.7 million in 2015.

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