Snap Inc files for $3bn IPO as it admits its ad model is still at an ‘experimental’ stage

Snap Inc has admitted it faces a challenge in convincing advertisers of the veracity of its ad business as it files for a $3bn (£2.4bn) IPO that could be one of the largest by a tech firm in years.
In its filing, Snapchat’s owner says advertising accounted for 98% and 96% of its total revenue in 2015 and 2016 respectively. While it has attempted to reduce that reliance, other revenue streams – such as the product launch of spectacles – are yet to gain any significant tra