Snapchat filed confidentially and plans to start having its shares traded in March.

Reportedly, Snapchat has filed for an initial public offering, stepping closer to the biggest U.S. stock market debut since 2014.

According to Reuters, Snapchat filed with the Securities and Exchange Commission under the U.S. Jumpstart Our Business Startups Act. Thus, companies with less than $1 billion in revenue are allowed to file for an IPO secretly. This is rather convenient as it helps to keep financials confidential while quietly evaluate investor appetite.

Snapchat must have file for a public offering before the recent US events. Thus, the unexpected victory of Donald Trump in the U.S. presidential election increased uncertainty in global markets, but the Dow Jones Industrial Average has hit record highs for four straight sessions.

Investors consider a Snapchat IPO to be a bellwether for many of the largest so-called “unicorns”, venture-backed companies valued at more than $1 billion. Such companies, often referred to as “decacorns”, cost tens of billions of dollars and include Snapchat, Uber Technologies Inc. and Airbnb. It is still up in the air whether such companies can beat or even replicate such astronomic valuations with more scrutinizing public investors as a decacorn has never tried to test the public market before.

Evaluating the current year, it is necessary to admit that it has been rather shaky for the market of technology IPOs. Investors had to behave carefully due to volatile technology stock performance and uneven returns from recent IPOs. As for now, 123 U.S. technology companies have gone public, having raised altogether $7.1 billion. The decline is obvious – proceeds fell by 58 percent while the number of offerings dropped 20 percent comparing to this very time last year.

Snapchat, an image messaging and multimedia mobile application, was created in 2012. The app allows users sending instant photos that vanish within seconds. For four years, Snapchat has managed to grow into a service with more than 100 million active users with about 60 percent of them aged 13 to 24.

Snapchat seems to be rather attractive for investors. However, there are worries that app’s advertising sales, that began last October, is the only significant revenue source of the company.

Snapchat is also continuing its marketing campaign for Spectacles offering to buy them from a single Snapbot deployed at a single location, for a limited time. The third location turned out to be Tulsa, Oklahoma, right after Venice Beach in LA last week, and Big Sur in norther California on Sunday.

Snapchat team has created an amazing plan – it’s generating huge hype by keeping the locations a secret and only offering them at one spot per day. The company chooses interesting spots a bit off the beaten path so it all looks like a global country-wide road trip.

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