Snapchat parent to offer shares on NYSE

Snap filed confidentially for IPO last November, which was possible because the company generated less than $1 billion in revenue in 2016.

Why go public? Snap has some big ambitions and more cash could help the company on its expansion into hardware.

While Snap's finances are not public, research firm eMarketer has estimated that Snapchat would generate almost $1 billion this year from advertising. Snap Inc has already filed its information privately with the US Securities and Exchange Commission.

Snap is seeking a valuation of $25 billion, according to Recode's sources and previous reports.

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The Venice, California-based company will publish the registration document it secretly filed with U.S regulators last autumn, containing a dossier of tightly held finances and its plans for operating as a public company. But this filing is more important because it gives retail investors a look into Snapchat's financials and business model. That would make Snap one of the largest IPOs in recent USA history.

Trip Chowdhry, the managing director of equity research at Global Equities Research, recently called Snap "total junk" and "hyper-inflated" in value, as reported by CNBC.

Over the past few years, the popularity of Snapchat has become unrivaled. If Snapchat can live up to its hype, the VC space might see a much-needed spark after a decidedly cool period.

Snapchat has 250 million daily users globally and is expected to generate revenues of about $1 billion in 2017.

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