Snap plans to file for an initial public offering this week, sources cited in Recode say. If true, Snap could go public as soon as March.
The IPO will be led by Morgan Stanley and Goldman Sachs, according to Recode’s report. Snap, which is five years now, could debut at a value of around $25 billion.
Last year the company changed its name from Snapchat, its flagship product, to Snap. It also launched Spectacles, a Snapchat-oriented pair of glasses.
Facebook tried to acquire Snap for $3 billion a few years ago.