Snapchat seems to be the go to app for teenagers and young adults. Did you know that one of last year’s biggest apps, Vine has been shut down since last month. To avoid such a fate Snapchat is seeking to raise roughly $4 billion “…in an initial public offering expected to take place at the start of 2017.” The company’s IPO may be valued as high as $40 billion according to ‘hopeful’ reports. If the social media giant is able to accomplish its goal this would be the biggest social media listing since Twitter in 2013.
Snapchat plans to avoid the shortcomings Vine faced by going public and developing bigger and better products for its users. Nash Riggins from SmallBizTrends points out that this “should give small business owners who haven’t yet given Snapchat a chance for marketing some pause. If the platform will be around for the long haul, perhaps its time for a closer look.”