Facebook casts a long shadow.
Now worth more than $340 billion, the social network lords over the biggest platform in the history of mankind. The company has either bought up its direct competitors or relegated them to also-rans. Few companies outside of Google, Amazon or Apple can consider themselves serious rivals to Facebook.
Snapchat wants to be in that discussion.
The little app that could is now preparing what will be one of the largest U.S. tech IPOs ever, and the biggest since, well, Facebook. Snapchat’s reportedly going to be valued somewhere between $20 billion and $25 billion.
Facebook and Snapchat have always had something of a big brother-little brother dynamic. Both companies have dorm-room roots, grew rapidly among a core young audience, and rapidly iterated their products. Facebook had a seven-year head start, however, and has already gone through most of its growing pains. Read more…