About four years ago, Facebook made its market debut as an $81.2 billion company.
The listing was massive, shocking technology giants such as Apple and Google parent Alphabet, which didn't start off with such huge premiums.
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Now it looks like it will be Snapchat's turn to blaze a trail of glory.
The messaging application company's popularity is undeniable. If the content is controversial and risqué, Snapchat is the place to be.
Snapchat's immense popularity among young people is driven by a fundamental risk in most social-networking platforms: the inordinate longevity of personal data. By tapping into this trend and booming demographic, Snapchat is poised to be a growth stock standout.
The company has filed for an initial public offering valued at $20 billion to $25 billion to occur as soon as March.
Facebook Chairman, Chief Executive and Co-Founder Mark Zuckerberg is aware of Snapchat's growing prominence and is already testing a clone version that could replicate the app's key features.
Although details are sketchy, Snapchat's anticipated 2017 revenue of $1 billion looks like it translates to a multiple of 25 times based on the IPO's implicit valuation.
Before Facebook went public, it already had $4 billion in sales and a sales premium of 20 to 25 times.
Since then, Facebook has acquired Instagram and WhatsApp and has been under scrutiny for its data security and privacy management.
That is why Snapchat, which is backed by Alphabet's venture capital arm CapitalG, is gradually becoming a force with which to reckon.
Snapchat's temporary images and videos mean that users can avoid the challenges of emergency de-tagging and Photoshopping unappealing candid shots.
There has also been consistent worries that private data stored in Facebook, Google or any other Internet-based service behemoth can be retrieved at any time.