Snap, the company behind popular messaging app Snapchat, has hired bankers as it prepares for an initial public offering as early as March.
Morgan Stanley and Goldman Sachs will lead the deal, while JPMorgan, Deutsche Bank, Allen & Co., Barclays, and Credit Suisse will be joint bookrunners.
Snap has told investors that it expects to make between $250 million and $350 million in advertising revenue this year.