Snap Inc, has field confidentially for an initial public offering valuing the popular platform specializing in time sensitive messages at as high as $25 billion. This is a huge step toward the highest profile debut on the stock exchange in the past few years.

The company, known formerly as Snapchat, filed for its IPO with the Securities and Exchange Commission during the past few weeks, said people who are familiar with the situation.

An IPO, which is expected for some time during early March, could place a value of Snap from $20 million to $25 million, said one of the people close to the situation.

A national newspaper reported in October that the company could be valued at $25 billion or higher. It is unknown why there is such a discrepancy in the company’s possible value.

If Snap goes forward with an IPO at the valuation that is currently expected, it would be the largest technology offering that is U.S. listed, since Alibaba Group the e-commerce giant in China debuted in 2014, with a valuation of more than $168 billion.

That might provide a much needed boost for IPOs, which have been dismal in 2016. Only 103 companies listed shares on the U.S. thus far in 2016.

That figure is down from the 165 IPOs that raised over $34.5 billion for the same amount of time in 2015 and is the lowest year to date amount since 2009.

Tech IPOs experienced weakness that is similar. However, investors and bankers remain optimistic that a successful Snap debut would help to convince other tech companies to enter into the IPO market.

The strong performance recently of the few shares of tech companies that have started their trading in 2016 has given participants in the market more confidence that the IPO market will likely see a rebound in 2017.

Snap would be the first of a small number of closely watched, highly valued venture backed business, such as Uber, to test public markets.

The company, which is just four years old, whose app Snapchat, allows users to send messages that disappear, via their smartphones, became eligible to file confidential IPO paperwork due to it expecting to have less than $1 billion worth of revenue in 2016.

Under an act passed during 2012, companies that have less than $1 billion in annual revenue can file an initial draft for an IPO with regulators then make any needed adjustments prior to making it public.

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