Snapchat owner files US gov't paperwork for IPO

We have very limited access to the China market, as we have not yet established an operating presence in China to support Snapchat.

But with the Super Bowl looming large, Snap's rival Facebook is a big reason why I see three compelling reasons to avoid its shares when it goes public.

First, the basics of the IPO.

Google cloud boss Diane GreeneGoogleSnap just filed for a $3 billion IPO, giving us a peek behind the curtain at the company that makes Snapchat. It will trade on the New York Stock exchange under the symbol "SNAP".

Snap, the parent company of the popular Snapchat app, revealed its financial numbers today in its IPO filing, along with plans to expand sales of its Spectacles tech glasses.

The majority of Snap's revenue in 2016, 98%, came from advertising and although it is growing its losses are also increasing by the day.

Snap Inc.co-founders Bobby Murphy and Evan Spiegel were paid $503,000 and $2.4 million respectively in 2016 and both have 21.8 percent of the Snapchat shares.

White House says new guidance exempts green card holders from travel ban
The White House later said the comments were meant to be lighthearted. "The president himself called it a ban", she said. News White House correspondent Kristen Welker told Spicer that a Monday tweet from Trump referred to the order as a ban.

But it's clearly much more than that. Other competitors include Facebook, Twitter and Apple. It ushered in a form of casual social networking that's something of an antithesis to Mark Zuckerberg's almost 2 billion-strong behemoth.

The IPO prospectus, referenced by DNA, said, "Our strategy is to invest in product innovation and take risks to improve our camera platform".

I'm always one for honesty, but when you're doing your paperwork for an initial public offering, I don't think that's the best time to admit you are never going to be profitable. That offering, in 2014, raised nearly $22 billion.

The news about biggest technology IPO has been going around since past year.

At least 158 million people use the Snapchat messaging app daily, according to the company. In 2015, Snapchat brought in revenue of $57.7 million while losing $372.9 million.

In the last few months, Spiegel and co. have also broadened their vision beyond the flagship social network. Previously, the company filed IPO-related documents with the SEC on a confidential basis.

The company said it relies on Alphabet Inc.'s Google for most of its computing, storage, and bandwidth, and any disruptions to Google's cloud functioning could "seriously" hurt its business. In the quarter before it went public, Facebook recorded total revenue of $1.06 billion and revenue per user of $1.21.

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