Snap Inc, the maker of Snapchat, has confidentially filed for its IPO, according to a reports.
The company could go public as early as March, Reuters reported, citing multiple sources.
The Wall Street Journal reported separately that Snap had filed to go public before the election last week, but that the outcome of the election didn't affect the company's plans. A Snapchat spokesperson declined to comment.
News of the filing comes just days after Snap launched its first hardware product with Spectacles, a set of sunglasses capable of recording short video clips for sharing on Snapchat. The company also officially announced its name change from Snapchat Inc to Snap Inc when it first revealed Spectacles in September.
Snap would be just the latest company to take advantage of the ability to tell the securities and Exchange Commission of its intend to go public without a public S-1 filing. These so-called confidential filings are reserved to companies with an annual revenue of less than $US1 billion ($A1.3 billion), which are also being called emerging-growth companies.
Snapchat aims to have more than $US1 billion in revenue in 2017; earlier this year, Recode reported that the company aimed for a revenue target of $US300 to $US350 million for 2016. Snap is expected to be valued between $US20 billion and $US25 billion when it goes public, according to the Journal.
The company has raised at least $US2.63 billion in funding from investors including Alibaba, Benchmark, Kleiner Perkins Caufield and Byers and others.
Just last month, news broke that CapitalG, the investment arm of Google parent Alphabet, also contributed to one of the funding rounds.
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