Snap valuation jumps to over USD 20 bln after IPO

(Telecompaper) Snap raised USD 3.4 billion during its IPO, selling 200 million shares at USD 17 per unit, Bloomberg reported. The price topped the IPO price range of USD 14-16 per share given in February, and takes the company's market valuation to about USD 20 billion, based on 1.16 billion shares outstanding after the IPO. The amount implies a multiple of about 21.4 times EMarketer's estimate for Snap's 2017 advertising sales.