Snapchat parent company Snap, has secretly filed its paperwork for an initial public offering (IPO), according to several reports.
The IPO filing with the Securities and Exchange Commission could value the California-based firm between $20 billion and $25 billion, meaning CEO Evan Spiegel made the right decision when he rejected a $3-billion, all-cash buyout offer from Facebook in November of 2013.
The company could go public as early as March, sources told The Wall Street Journal.
If the IPO does go ahead as planned, it will be the largest company to go public on the U.S. Exchange since 2014 when Chinese eCommerce firm Alibaba went public with a massive $168 billion valuation.
Snapchat, which this fall changed its company name to Snap Inc., just entered the hardware market with Spectacles — sunglasses with a built-in video camera. The company, last week, began parachuting vending machines, dubbed Snapbots, to select U.S. locations to enable its users to buy a pair of Spectacles.
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