A successful public debut depends on more than impressing Wall Street bankers. Snap is also trying to win over major advertisers for multi-year ad-spending deals worth hundreds of millions of dollars, the WSJ reports.
Why it matters: Big ad commitments will help Snap live up to its potential $25 billion valuation by convincing public investors that the company is worth betting on.
Speed bumps: Some ad buyers tell WSJ that they're looking for Snapchat to keep improving usage metrics (something the company is working on). While Snapchat is seen as a good way to promote products to young audiences, it isn't yet a persistent media-buy must like Facebook or Google.