Snapchat ‘confidentially’ files for IPO according to reports

Burgeoning social media platform Snapchat is reported to have “confidentially” filed for a float on the US stock exchange, according to reports.

Reuters is reporting that the company, founded in the US by Evan Spiegel just five years ago is understood to have filed papers with US regulators.

Earlier reports suggest the company has been gearing up to float with an initial public offering valuing the company at US$25bn.