>> Today, US company Snapchat's owner came to London to present investors their plan to list the company in a highly watched deal that could value the company up to $22 billion. I am Sophie Sassard. I cover telecom, media, and technology in Europe and I came here to talk to a few investors about the deal.
So, today is a big test for Snapchat founders because it is the first time that they officially meet investors to convince them that the company they are trying to IPO is worth investing in. London is a logical place to come because it's one of the stronger markets for Snapchat users outside of the US.
But other markets in Europe like France or Poland are showing some good momentum. Snapchat already had to cut its valuation to address investors' worries, because the company's still not profitable. It's facing slower growth in its home market, always has fueled a lot of concern from investors, who, on one hand, think that Snap could be the next Facebook, and in a low yield environment, they don't want to miss that potential opportunity.
On the other hand, they don't want to get burned, and get stuck in a company that is not worth what it was supposed to be. So, Snap is now heading back to its own market, and they will meet US investors in New York tomorrow, and then they'll continue their roadshow with a series of other meetings in other large US cities.