Snapchat picks Morgan Stanley, Goldman to lead IPO: sources

U.S. photo-sharing app Snapchat has chosen Morgan Stanley and Goldman Sachs Group Inc as lead underwriters for an initial public offering that could come as early as March, a source familiar with the situation said on Wednesday. The banks were notified earlier this week that they had been awarded one of most coveted and potentially lucrative IPO mandates in recent years, as the Venice, California-based company vies for a $25 billion valuation in the stock market. JPMorgan Chase & Co , Deutsche Bank AG , Allen & Co, Barclays Plc and Credit Suisse Group AG will be joint book runners, the source said, asking not to be named because the information was not yet public.

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