A billboard displays the logo of Snapchat above Times Square in New York March 12, 2015. REUTERS/Lucas Jackson
US messaging app Snapchat has chosen Morgan Stanley and Goldman Sachs Group Inc as lead underwriters for an initial public offering that could come as early as March, a source familiar with the situation said on Oct 12.
The banks were notified earlier this week that they had been awarded one of most coveted and potentially lucrative IPO mandates in recent years, as the Venice, California-based company vies for a US$25bil (RM105.50bil) valuation in the stock market.
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