Snapchat Has Filed For Its IPO

Snap Inc., the company behind Snapchat and Spectacles, has officially filed for its initial public offering (IPO).

The documents detailing the IPO include Snap Inc.'s valuation, its daily active users, and how its business is doing. In 2016, the company made $40.5 million; however, it also lost $514.6 million in the same year. Snapchat currently has 158 million daily active users.

The company is seeking to raise $3 billion to amount to a total $25 billion valuation. It will start trading in March, under the ticker SNAP.