Snap Inc., the parent company of Snapchat, has filed confidentially for an initial public offering, according to a person familiar with the matter, who asked not to be identified as the details are private.
Snapchat will seek to raise as much as $4 billion in its IPO at a valuation of about $25 billion to $35 billion, people familiar with the matter said in October.
No final decision has been made and the size of the IPO may change, said the people at the time. The valuation could reach as much as $40 billion, one of the people said.
A representative for Snapchat didn't immediately respond to a request for comment. Reuters earlier reported the filing.