Photo Illustration by Thomas Trutschel/Photothek via Getty Images)(WASHINGTON) — Snap Inc. has filed paperwork in advance of a possible initial public offering on Thursday.
The parent company of photo messaging app Snapchat describes itself in the filing as a camera company. “We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate,” it says.
The company touts its growth in just five years, boasting more than 161 million daily active users worldwide, and revenue of over $400 million.
Snap is looking to raise up to $3 billion in the IPO.
The paperwork does show that the company is not profitable, operating with a $515 million net loss in 2016.
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