Flash in the pan?: Barriers for entry appear low and Snapchat's demographic
LONDON: Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance.
The US company, which has yet to make a profit, aims to raise between US$19.5bil (RM87.1bil) and US$22.3bil (RM99.6bil) from listing on the New York Stock Exchange, after cutting its initial target of US$20bil (RM89.3bil) to US$25bil (RM111.6bil) last week following investor feedback.
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