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Kia Kokalitcheva Feb 15, 2017
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The little-known law helping Snap go public

Photo illustration by Greg Ruben / Axios

Months before Snapchat's parent company publicly filed its IPO documents on Feb. 2, it confidentially sent a draft version to the Securities and Exchange Commission for review.

Why? Because Snap is an example of what the SEC classifies as an Emerging Growth Company, a category created by the JOBS Act of 2012 to ease the IPO process and make stock markets more accessible to more companies.