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, 2016, up from $58.7 million in the previous year. Snap reported net losses of $514.6 million for 2016, compared to a net loss of $372.9 million in the year-earlier period. 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 & Co, J.P. Morgan and Deutsche Bank Securities are the lead underwriters on the offering.
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