The video below features an excellent discussion of why Snapchat has decided now is the right time to seek a public listing for its shares. As usual, the main aim of an initial public offering (or "IPO") is to raise growth capital, as well as providing an "exit" for the venture capitalists who have financed Snapchat thus far.

This article on Business Insider is also worth a read. It considers the success of Snapchat's innovation in recent years and the increasingly intense competitive rivalry with Facebook. Don't forget that the founders of Snapchat declined a multi-billion offer for their company from Facebook!