It looks like Snapchat is preparing for a public offering, and rumours are they’ll be valued at US$25 billion – the highest tech IPO since Twitter’s. This would definitely explain why they rejected Facebook’s offer of a measly US$3 billion.

For a company that’s just 5 years old, Snapchat’s popularity has been undeniable, and a valuation that big just makes sense considering its got 150 million users.

If they do go public, speculation is that it’ll be in March of next year.