Snap Inc., the parent company of Snapchat, has filed confidentially for its initial public offering, according to a report from Bloomberg. The company is seeking to raise as much as $4 billion, which would give it a valuation of between $25 billion and $35 billion, the report states. The confidential filing — a move Twitter made in 2013 — indicates Snap Inc.’s annual revenue is under $1 billion, which is in line with expectations for the company’s advertising estimates. The IPO is expected as early as March, Reuters reports.

The move signals the most critical shift for the Snapchat maker in its history, paving the way for a large injection of capital to help it grow and better compete with Facebook, Google, and others in the realm of…

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