Snap Inc., the company formerly known as Snapchat, is working on an IPO for March that would value the company at $25 billion,according to the Wall Street Journal.
The company last raised $1.81 billion in private funding in May that pegged its valuation at between $18 and $22 billion.
When reached by Business Insider, a Snap spokesperson declined to comment on the company's IPO plans. 
"We aren't going to comment on rumors or speculations about any financing plans or alternatives," the spokesperson said.
Snap has told investors that it expects to make between $250 and $350 million in advertising revenue this year, according to The Journal.  A recent eMarketer report predicted that the company will near $1 billion in revenue in 2017 and nearly double that by 2018.
A $25 billion IPO would be the largest public offering for a tech company since Alibaba went public in 2014 for $168 billion, and would come at a time when the tech IPO market has been in the doldrums. 
It would also be a huge coup for Evan Spiegel, the 26-year-old entrepreneur who started Snapchat as a student at Stanford and famously turned down a $3 billion bid from Facebook in its early stages.
The Information previously reported that the company was looking to go public as soon as later this year or in early 2017.

Developing...