Snap is reported to have filed under the Jobs Act which allows companies with less than $1 billion in revenue to secretly file for an IPO Carl Court/Getty ImagesSnap, the company behind the popular messaging app Snapchat, is reported to have filed for an initial public offering that could value the company at around $25 billion. It would be the largest technology float since Alibaba’s two years ago and the biggest US tech float since Facebook’s market debut in 2012. Snap makes money from posting advertisements on Snapchat. The Wall Street Journal and Reuters reported that the filing was made under the Jumpstart Our Business Startups, or Jobs, Act. The act allows companies with less than $1 billion in revenue to file secretly for an IPO to give them time…

Source: The Times November 16, 2016 09:01 UTC