Snap-chat owner shares priced at 17 dollars despite making losses

Thursday, 02 March 2017 - 10:43

Snap-chat+owner+shares+priced+at+17+dollars+despite+making+losses
Snap, owner of the Snapchat, has priced its shares for listing on the US stock market at 17 dollars per share.

The flotation values the business at 24 billion dollars, although Snap has never made a profit.

It will turn the company's founders Evan Spiegel and Bobby Murphy into multi-billionaires.

Snapchat, a messaging app popular with teenagers, allows users to send images and messages that then vanish.


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