NEW YORK (TheStreet) -- Snap, the parent company of the popular messaging app Snapchat, could go public as soon as March, according to a Bloomberg report from Tuesday. The publication cited sources close to the matter. The company is looking at a valuation of $20 billion to $25 billion.

"They're going to have to put up some extraordinary growth numbers over the next couple of years," in order to achieve that valuation, Bloomberg Intelligence director of North American research Paul Sweeney said in an appearance on "Bloomberg Daybreak: Americas" Wednesday.

"They're going to have to hope that the market values them like they valued Facebook (FB) at its IPO," Sweeney continued.

Snapchat is a social media platform focusing on sharing videos and photos; and it is preferred by a younger demographic. About 60% of Snapchat's users are under the age of 34, making it a "sweet spot" for advertisers, Sweeney noted.

Snapchat works by allowing the user to send videos and pictures that the recipient can view for a few moments (or preset period of time) before the pic or vid disappears. It isn't your typical social media platform where you post your thoughts, pictures and videos and wait for likes and retweets.

"Like a lot of the other social media platforms that we've seen out there, a Facebook, a Twitter (TWTR) , a LinkedIn  (LNKD) , their metrics are, grow your user base and then try to sell them to Madison Avenue," he added.

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