Snap’s Reported Valuation May Surprise Some People

Snap Inc., the owner of the popular messaging app Snapchat, has set a valuation range for itself of $19.5 billion to $22.2 billion in its initial public offering, the Wall Street Journal reported, citing sources.

The valuation range, which represents $14 to $16 per share, is close to the lower end of the expected range of $20 billion to $25 billion, the Journal reported.

A Snap Inc. spokesman declined to comment.

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