Snapchat considering IPO

Media giants Snapchat are allegedly considering floating on the stock market in the near future.

The Information reported that Snapchat will file for an IPO towards the end of this year or early in 2017.

Snapchat doesn’t appear to have hired a banker to handle the IPO yet, suggesting there isn’t a firm timeline. In a statement, a Snapchat spokeswoman said: “Whether and when we go public will depend on a variety of factors, many of which are beyond our control.”

Snapchat CEO Evan Spiegel hasn’t been shy about stating the company’s interest in going public. “We need to IPO. We have a plan to do that,” he said at a conference last year.

The company is valued at around $16 billion, despite being only five years old.