Snapchat Chief Executive Officer Evan Spiegel revealed on Tuesday that the company may soon go public.
"We need to IPO, we have a plan to do that," chief executive officer Evan Spiegel said on-stage at a Code Conference in California, NDTV Gadgets reports.
Although he did not provide specific information about when the initial public offering of stock would be made, it was revealed that the company plans to boost its size in coming years.
"An IPO is really important," he also mentioned during his talk.
News of a forthcoming IPO follows months of investor speculation over investment plans.
Alibaba, China's largest e-commerce site rivaling Amazon, committed to a $200 million investment for the mobile application earlier this year. The investment valued at $15 billion.
Two years earlier, Snapchat officials rejected a $3 billion offer from Facebook for ownership. The application has since gone viral, receiving downloads from around the world.
Snapchat was founded in 2011 and now includes Snapcash, which allows friends to exchange money through the application.
