A billboard displays the logo of Snapchat above Times Square in New York March 12, 2015. REUTERS/Lucas Jackson
The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between US$20 billion and $25 billion but fell short by targeting a valuation between $19.5 billion and $22.3 billion ahead of its marketing road show, due to start on Monday in London.
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