Social media messaging app Snapchat has been notoriously evasive about its business over the years, creating a aura of mystery much like the one that surrounds its disappearing messages. That all will change later this week, when it will reportedly release its IPO filing.
We reported on the initial public offering back in November of 2016, but as the actual date of filing has come closer the company’s estimated value has gone up. In November it was expected the company would be valued at $20 billion, but now sources are saying it will be worth $25 billion, or potentially more if demand for Snap stock is high.
Snapchat CEO Evan Spiegel will undoubtedly make a substantial sum from the filing, although we won’t know how much until the IPO is revealed. The stocks won’t be publicly available until later this year, likely March. The filing will reportedly take place on the New York Stock Exchange.
To understand Snapchat’s success, check out our list of rappers to follow on Snapchat.
[via Recode]