Snapchat files for $3 billion IPO
Five years after its launch, image messaging app Snap, previously called Snapchat, on Friday filed for IPO (Initial Public Offering) where it hopes to raise $3 billion. Snapchat is expected to go public in March this year at a valuation of nearly $25 billion. The app was launched in 2011 by former Stanford University students Evan Spiegel and Bobby Murphy.