The company is aiming to raise as much as $4 billion in its rumored IPO, according to a report Thursday by Bloomberg. The offering could value Snap at $25 billion to $35 billion, according to the report, which cited unnamed sources.

A Snap spokesman declined to comment.

Earlier this month, it was reported that Snapchat's big market debut could come as early as March. The IPO buzz comes weeks after Snapchat, the mobile app for disappearing photos and videos, unveiled its first hardware product: video equipped sunglasses called Spectacles.

As part of the announcement, the company renamed itself Snap Inc. It was a clear sign the company is broadening its vision beyond more than just its 5-year-old app, which is wildly popular among teens and young adults.