Is Snapchat the new Facebook?

As Snapchat plans the most eagerly anticipated technology IPO since its older rival floated in 2012, Rupert Neate examines the two companies’ striking similarities Snapchat hopes its planned flotation in New York will value the five-year-old photo-sharing app company at up to $25bn (£20bn) and turn its 26-year-old founder, Evan Spiegel, into the world’s youngest billionaire with a $5.5bn fortune. It is the most eagerly anticipated technology initial public offering (IPO) since