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Snap was poised to price its initial public offering at $17 a share, above the range it had projected, according to people with knowledge of the deal.

The group behind the Snapchat vanishing messaging service had previously said that it expected to float its shares in the $14 – $16 range.

Snap’s better-than-expected pricing comes as a good sign for other so-called unicorns, like Uber and Airbnb, that have secured aggressive valuations in the private market, but have been skittish about taking the plunge into the public markets.

Copyright The Financial Times Limited 2017. All rights reserved.

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