Report: Snapchat files for IPO

Snapchat has reportedly filed for an initial public offering (IPO) that could value the firm at as much as US$25 billion.

According to Wall Street Journal and Reuters reports, Snapchat, now known formally as Snap Inc, has confidentially filed paperwork with the US Securities and Exchange Commission and is expected to IPO as early as March.

Both reports claim the firm could be valued between US$20 billion and US$25 billion when it goes public, which would make it the biggest US technology IPO since Alibaba’s stock market debut in 2014.