Snapchat’s Parent Makes Blockbuster IPO Details Public

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 soon as March and could be valued at between $20 billion and $25...

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