Photo-sharing app Snapchat's parent is working on an initial public offering that could value the company at $25 billion or more, the Wall Street Journal reported, citing several people familiar with the matter.
Snap Inc., which operates the app Snapchat that lets users send videos and messages that disappear in seconds, is looking to sell shares as early as late March, the Journal reported.
"We aren't commenting on rumors or speculation about any financing plans," the company said in an emailed statement.
Snapchat had been talking to investment bankers about an IPO toward the end of this year or early in 2017, technology website The Information reported last month.
Reports on Snap Inc's IPO come at a time when many technology companies that went public are trading below their IPO price.