Therese Poletti’s Tech Tales: The two views of Snapchat: An app that has peaked or a platform set to blossom

From New York to Silicon Valley to its hometown in Southern California, investors and analysts are sharply divided about Snap Inc. and its potential ahead of a highly anticipated initial public offering.

Investors are hoping that the Snapchat parent company’s much hyped IPO, the first from a “unicorn” tech company this year, will revive the moribund market for IPOs. Snap SNAP, +0.00% is expected to seek to raise at least $3 billion, in an offering expected to value the company at $20 billion to $25 billion.

Read also: Six things we know about Snap ahead of the IPO

There are basically two camps emerging.

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