Snapchat parent Snap Inc. filed to go public Thursday. The social-media company reported revenue of $404.5 million for the year ended Dec. 31, up from $58.7 million in the previous year. Snap reported a net loss of $514.6 million for 2016, compared with a net loss of $372.9 million in the prior year. It reported global average revenue per user in the three months ended Dec. 31, 2016, of $1.05, up from 31 cents in the year-earlier period. The company said it has an average of 158 million daily users, with 2.5 million “snaps” made a day. The company plans to list on the New York Stock Exchange under the proposed symbol “SNAP.” It did not yet disclose the terms of its offering. Morgan Stanley, Goldman Sachs, J.P. Morgan and Deutsche Bank Securities are the lead underwriters on the offering.
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