Snap Sets Initial Estimated IPO Range, Seeks Up To $3.6 Billion In IPO

Venice, California-based Snap Inc., the parent company of Snapchat, has set its estimated initial IPO pricing, saying this morning in a filing that it estimates its initial public offering price at betwen $14.00 and $16.00 per share. Snap said it is planning to sell as many as 230,000,000 shares of its stock, which would net it around $3.68 billion on the public markets. Snap has applied to list on the New York Stock Exchange as SNAP. The IPO would value Snap at nearly $18.5 billion, if the company prices at the high end of that estimated IPO range.