Snapchat IPO Could Hit The Market In March

In one of the most anticipated IPOs since Facebook Inc FB, Snapchat will likely hit the market in 2017 after officially filing IPO papers with the SEC, Wall Street Journal has reported.

Submitted before last week's election, Snapchats parent company Snap Inc. filed its IPO confidentially with the SEC, as companies with less than $1 billion in annual revenue can do so under the JOBS act.

A confidential filing removes some of the obstacles in going public. Twitter Inc TWTR followed the same approach in its 2013 IPO.

The IPO could value the social media giant at $20-25 billion. Snap Inc.'s offering could take place as early as March of next year.

With over 235 million users and 150 million daily active users, Snapchat has one of the least intrusive monetization plans in place with its advertising strategy. The company is projecting $1 billion in ad revenue in 2017, up from an expected $250-350 million in 2016.

It's no doubt, 2016 was the year of Snapchat.