Snap touts metric of engaged daily users to justify US$20b value

New York

SNAP Inc is hoping to convince public market investors it's worth upwards of US$20 billion by stressing how important its app is to users' daily lives.

That's what Snap's management highlighted this month to analysts from banks underwriting its initial public offering, according to people familiar with the matter. The company laid out a slew of engagement metrics that will be used to build financial models to determine the valuation it will seek, they said, asking not to be identified as the details aren't public.