Get your allowance ready: Snap's stock will cost about as much as a movie ticket
New Snapchat filter idea: Vomiting money.
Snap Inc. will be worth as much as $22 billion if all goes well with its upcoming initial public offering, in which the company will for the first time make its stock available to the public for purchase.
Snapchat is looking to charge between $14 and $16 for a single share, of which the company will make 200 million available in the IPO. That means you can own a piece of the company for about the price of a movie ticket.
The company confirmed these details in a filing with the Securities and Exchange Commission.
Those numbers could still go up if Snap finds a healthy appetite for its stock offering. You can't buy Snap stock just yet; the company is about to embark on what is known as a "road show," in which it meets with a variety of big investors and analysts to drum up interest in its shares.
That will go on for the next few weeks, with the big day reportedly scheduled for March 1 — the day that Snapchat stock could officially hit the open markets. At that time, anybody with a stock trading account (think E*Trade or Robinhood) would be able to buy shares in Snap.
So put down your phone and get out your wallet.
Topics Snapchat
Jason Abbruzzese is a Business Reporter at Mashable. He covers the media and telecom industries with a particular focus on how the Internet is changing these markets and impacting consumers. Prior to working at Mashable, Jason served as Markets Reporter and Web Producer at the Financial Times. Jason holds a B.S. in Journalism from Boston University and an M.A. in International Affairs from Australian National University.
