And in the biggest news of the week, Snapchat has filed for its IPO. The IPO will raise an additional $3B in funding and rumors circulating price the company’s valuation as high as $34B. The IPO is being co-led and underwritten by Morgan Stanley and Goldman Sachs. This will mark the largest exit in LA tech history and will introduce a new influx of cash into the ecosystem; even if Snapchat never reaches profitability.
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