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Snapchat hopes to raise $3.4 billion in IPO

Even concerns about Snapchat's slowing user growth aren't stopping investors from clamoring for its stock.

Snap, the parent company of Snapchat, priced its initial public offering at $17 a share on Wednesday. It had previously proposed a range of $14 to $16 a share.

That will reportedly give Snap a market value of nearly $24 billion, making it the largest U.S. tech IPO since Facebook.

Reps for Snap did not immediately respond to a request for comment.

"The demand for the

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