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Goldman Sachs is telling prospective investors in Snap's IPO that the company should hit $2 billion in revenue in 2018, according to Business Insider.

This would represent nearly a fivefold increase over the Los Angeles-based company's 2016 revenue, but also would reflect slower growth. Snap generated just $58 million in 2015 revenue and $404 million last year, or a 585% boost. The Goldman figured would suggest a 395% increase over two years.

It's a similar situation in terms of user growth. The company experienced a 48% increase in daily active users between the end of 2015 and the end of 2016, climbing to 158 million. Goldman Sachs expects that figure to hit 221 million by the end of 2018, or nearly 40% growth (again, over two years instead of one).

Business Insider did not make any mention of when Goldman believes Snap might become profitable.

Go deeper

Updated 1 hour ago - Politics & Policy

Key government agency says Biden transition can formally begin

General Services Administrator Emily Murphy. Photo: Alex Edelman/CNP/Getty Images

General Services Administrator Emily Murphy said in a letter to President-elect Joe Biden on Monday that she has determined the transition from the Trump administration can formally begin.

Why it matters: Murphy, a Trump appointee, had come under fire for delaying the so-called "ascertainment" and withholding the funds and information needed for the transition to begin while Trump's legal challenges played out.

Updated 2 hours ago - Politics & Policy

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Illustration: Aïda Amer/Axios

  1. Vaccines: Key information about the effective COVID-19 vaccines — Oxford and AstraZeneca's vaccine won't just go to rich countries.
  2. Health: U.S. coronavirus hospitalizations keep breaking recordsWhy we're numb to 250,000 deaths.
  3. World: England to impose stricter regional systemU.S. hotspots far outpacing Europe's — Portugal to ban domestic travel for national holidays.
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Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.