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Snap IPO values company at double Facebook's worth

Snap raises US$3.4b in the biggest social-media offering since Twitter more than 3 years ago

A banner for the company hanging on the facade of the the New York Stock Exchange on the eve of the company's IPO in New York on Mar 1. Demand outpaced the number of shares being offered by a multiple of 10.

New York

SNAP Inc, maker of the disappearing photo app dependent upon the fickle favour of the millennial demographic, is going public at a valuation at least twice as expensive as Facebook Inc, and four times more costly than Twitter Inc.

Snap sold 200 million shares in its...

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