Snap to price long-awaited IPO on March 1 amid signs of brisk demand


  • TECH
  • Wednesday, 01 Mar 2017

While the first six months of the year saw a jump in US tech IPOs from 2016, there is more concern looming over Snap

Snap Inc, owner of popular messaging app Snapchat, will price its initial public offering after the US stock market closes on March 1 in the most eagerly awaited technology IPO since Chinese e-commerce giant Alibaba went public in 2014.

The pricing will be the first test of investor appetite for a social-media app beloved by teenagers and 20-somethings but which has yet to turn a profit. The company's losses widened last year, and it is experiencing decelerating user growth in the face of intense competition from larger rivals such as Facebook.

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