Snap Inc., of course, is the corporate parent of Snapchat and those funny looking spectacles. The company generates more than $400 million annually, and the public offering is slated to value the brand at over $20 billion, according to the Wall Street Journal.
The company said in its filing that it’s never made a dime in profit. That’s because its tremendous revenue growth is counterbalanced by some sizable losses — net loss in 2016 was more than $500 million.
A reminder: Uber, Airbnb and Pinterest — just to name a few other big tech firms — are still comfortably not publicly traded. Maybe Snap Inc.’s decision will create a change of scenery.
And if you’re still confused about what a public offering means, consult our quick explainer.