Snapchat owner Snap raises $3.4 billion in IPO -source
The successful IPO pricing clears a major hurdle for Snap, which will go public without having yet turned a profit. The company`s losses widened last year, and it is experiencing decelerating user growth in the face of intense competition from larger rivals such as Facebook .
Snap priced 200 million shares on Wednesday night at $17 per share, above its indicated range of $14 to $16 dollars a share. Photo: Reuters