Snap Sets Price Range For Offering At Maximum Valuation Of $22.2 Billion

Snap Inc's initial price range puts the company's initial public valuation below the $25 billion it was reported to be seeking. The Snapchat parent set a price range of $14 to $16 a share Thursday, which would give it a market capitalization of between $19.5 billion and $22.2 billion. The company said it would sell 200 million shares to raise up to $3.2 billion. The price range and number of shares is subject to change ahead of the company going public. Snap's latest private valuation was $17.8 billion, according to The Wall Street Journal.