The Presidential Daily Brief


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    Snapchat Chases IPO, Spurns Offers

    They’re going it alone — and going public. Founder Evan Spiegel, 24, says he’s not interested in being acquired, referring to Facebook’s $3 billion offer. Instead he’s planning an initial public offering at an undisclosed date. Spiegel admits that the messaging app startup — valued at $15 billion in March, up from $10 billion last year — has yet to prove it can generate income from ads, but hopes to forge additional revenue streams and IPO strength in a bid to stick around longer than all those fleeting messages.

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