Snapchat's Parent Company Sets IPO Price

Snap Inc. is listing the company's valuation at up to $22 billion as it prepares for the tech industry's biggest initial public offering in years, reports the AP. Snapchat's parent company said in a regulatory filing Thursday that the IPO is likely to be priced between $14 and $16 per share. Had the IPO price matched the $30.72 per-share price obtained in its last round of financing, Snap would've a market value of about $30 billion, based on the quantity of outstanding stock listed in its IPO documents. Snap's highly anticipated IPO would be the largest since China's Alibaba Group went public in 2014. It is expected to trade on the New York Stock Exchange under the "SNAP" ticker. (More Snapchat stories.)