Snap Inc, the parent company of popular messaging app Snapchat, officially filed for IPO on Thursday, revealing new details after it filed confidentially with the SEC in October 2016.
Planning to raise $3 billion, Snap will trade on the NYSE when shares go public, according to the filing. It could go public as early as March, trading under SNAP.
The filing with the SEC revealed interesting details on Snap's business:
Snap is lead by 26 year old CEO Evan Spiegel. It has grown from a photo-disappearing messaging app to a full-on ecosystem, with publisher "Stories," a wearable, filters, and more.
Previous reports said Snap may be valued at $25 billion when offered to the public.