What Snapchat's commitment deals with ad agencies mean for its IPO

Samantha Lee/Business Insider As Snap Inc. accelerates towards its IPO, the company is reportedly meeting with ad agencies to seek huge commitments of their clients' ad spend for 2017. Snap chief strategy officer Imran Khan and global head of sales Jeff Lucas are asking foramounts of between $100 million and $200 million, according to The Wall Street Journal. That would see the biggest advertising group, WPP, more than double its $90 million spend on Snapchat from 2016. WPP CEO Sir Martin Sorrel...