Snapchat grilled by skeptical investors ahead of IPO

Snapchat’s management team have been grilled by investors ahead of the businesses much anticipated IPO, as they sought to assuage concerns over bitter competition from Facebook, user growth and poor reach in developing markets.
Parent firm Snap has set itself the target of raising as much as $3.2bn from what would be the biggest tech IPO since Facebook, forcing executives to mount a global charm offensive to be sure of reaching the higher echelons of its valuation.
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