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Snap sets valuation at lower end of expectation

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BENGALURU: Snap Inc, the owner of the popular messaging app Snapchat, has set a valuation range for itself of $19.5 billion to $22.2 billion in its initial public offering, the Wall Street Journal reported, citing sources.


The valuation range, which represents $14 to $16 per share, is close to the lower end of the expected range of $20 billion to $25 billion, the Journal reported.


Snap Inc filed its IPO registration statement in early February and was expected to record the biggest valuation in a US technology IPO since Facebook Inc. — Reuters


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