Snapchat has IPO plan, says CEO

San Francisco

THE chief of vanishing-image service Snapchat on Tuesday said that the company has a plan for going public with an offering of stock but did not reveal when it might happen.

"We need to IPO, we have a plan to do that," chief executive officer Evan Spiegel said onstage at Code Conference in California when asked about the potential for an initial public offering of stock. "An IPO is really important," he added, according to a live blog of the exclusive technology conference.