Seems like someone tipped off Evan Spiegel that there are really only two banks to hire if you're going public and want to be taken seriously.
Snapchat has chosen bankers for its initial public offering, which could happen as soon as March, according to people familiar with the matter.
Morgan Stanley and Goldman Sachs Group Inc. will lead the offering and were notified of their role early this week, said the people, who asked not to be named because the information isn’t public.
It's not like you can't go public without hiring Goldman and Morgan to head up your super-hyped IPO, but also you really can't. Hiring anyone else is just not done. Like, you could hire Citi to take your tech unicorn public, but you could also get a full-back tattoo of Mike Pence's face while vaping meth at the Gathering of the Juggalos. Wall Street essentially sees no real difference between those two decisions anyway.
Spiegel gets it, you guys.
So Snapchat is following the axiom of modern IPOs even if it's not strictly a company that has a logical business plan.
See you soon, 2017!