Snapchat’s parent company, Snap Inc. is planning an initial public offering, which could value the company at $25 billion or more, according to a report in The Wall Street Journal.
The report said the photo-sharing app, which has around 58 million users, is looking to sell its shares as early as March next year.
If Snapchat’s valuation does increase significantly, the share sale would be the largest on a US stock exchange since Chinese e-commerce giant Alibaba Group Holding Ltd in 2014.
The company’s most recent valuation of $17.81 billion, based on a $1.81 billion financing round in May.
According to a report by eMarketer in September, the four-year-old company is set to generate a revenue of $366.7 million worldwide this year, compared to just $60 in 2015.
Last month, the company changed its name to Snap Inc., stating it will now be easier for people to search for their products by searching Snapchat and Spectacles and Snap Inc. will be for the use of the “Wall Street crowd.”
Snap Inc. estimated it has more than 100 million users worldwide, and some reports say it generates 10 billion views per day.
The popular messaging app recently announced its first ever hardware product that combines sunglasses with a built-in wireless video camera.
Spectacles, a completely new type of camera, enables users to record footage from a “human perspective” using a 115 degree field of view.
The sunglasses connect directly to Snapchat via Bluetooth or Wifi and transfer the users’ videos directly into the Memories folder on the app in a brand new circular video format.