Snapchat is edging towards $25bn float in the US

California-based Snap Inc, Snapchat’s parent company, is said to be planning to go public as soon as March in what would be the biggest flotation since Chinese e-commerce giant Alibaba’s initial public offering (IPO) in 2014,according to reports.

The owner of photo-sharing app Snapchat is reportedly lining up a flotation on the US stock market that could value it at up to $25 billion (£20 billion). It would be the biggest social media float since Twitter listed in 2013 with a $25 billion valuation. The micro-blogging site’s woes have raised questions about whether Snapchat can convert huge user numbers into profits. Snapchat now has more than 100 million daily active users, which is more than Twitter.