Evan Spiegel, the co-founder and CEO of Snapchat is set to take his company public later this year.
The company is currently valued at $24 billion, and it’s IPO has been the most anticipated one for a tech company since Facebook.
Spiegel initially turned down a $3 billion offer for the company, from Facebook founder Mark Zuckerberg.
Since then, Zuckerberg has acquired social networking applications WhatsApp and Instagram, in an attempt to compete with Snapchat’s photo sharing form and functionality
Launched more than five years ago, Snapchat has 158 million daily users.
(With Inputs from NBC News)