What You Need to Know About the Snap IPO

Snap filed its IPO paperwork confidentially in November and is expected to go public on the NYSE under the ticker symbol SNAP in March. The IPO will allow founders Evan Spiegel and Bobby Murphy to stay in control.

Snap said it had a net loss of $514.6 million on $404 million in revenue last year. Substantially all of its revenue came from advertising. On average, users that were 25 years old and above visited Snapchat 12 times and spent about 20 minutes on Snapchat every day in 2016.

At a valuation between $20 billion and $25 billion, Snap's listing would be the largest U.S.-listed technology offering since the Chinese e-commerce company Alibaba (BABA) - Get Report went public at a $168 billion valuation in 2014.

Snapchat had 158 million daily active users in its fourth quarter, up 48% year over year. Snapchat's opponent Instagram, which is owned by Facebook (FB) - Get Report , has 400 million daily active users.

This article was written by a staff member of TheStreet.