Snapchat hires Morgan Stanley and Goldman Sachs to lead IPO read more at here www.spinonews.com/index.php/item/1245-snapchat-hires-morgan-stanley-and-goldman-sachs-to-lead-ipo

Snapchat Inc has chosen Morgan Stanley and Goldman Sachs as lead underwriters for an IPO (Initial Public Offering).

According to the Bloomberg report, Morgan Stanley and Goldman Sachs Group Inc. will lead the Snapchat IPO.  JPMorgan Chase & Co., Deutsche Bank AG, Allen & Co., Barclays Plc and Credit Suisse Group AG will also be involved as joint book runners.

Read: Snapchat Working on $25b IPO

Snapchat started in 2012 as a free mobile app that allows users to send photos that vanish within seconds. The IPO could value Snapchat at around $25 billion. Snapchat changed its name to Snap Inc late last month also unveiled a pair of $129 spectacles capable of recording up to 10 seconds of video.

Read: Snapchat Launches Auto Advance Stories In Favor Of Playlists

Snapchat's most recent valuation of $17.81 billion will be the largest social media IPO since Twitter Inc. in November 2013.  The company has around 150 million daily active users.

 

However there is no official information available about this report. Representatives for Morgan Stanley, JPMorgan and Allen & Co. didn’t respond to requests for comment.