Snap makes $3 billion IPO details public

Snap makes $3 billion IPO details public

Feb 2 (Reuters) - Snap Inc, owner of popular messaging service Snapchat, made many of its financial details public for the first time on Thursday as it prepared to raise up to $3 billion in an initial public offering.

The Los Angeles-based company said it generated $404.5 million in sales in 2016, up from $58.7 million in 2015. It had a net loss of $514.6 million in 2016, up from a net loss of $372.9 million in 2015.

Snap expects to go public as...

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