Snapchat could go public as early as this year

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Snapchat could look to go public this year, according to a new report from The Information. While it has approached some banks, it hasn't settled on a firm yet, the report stated.

This isn't too surprising: Snapchat CEO Evan Spiegel has been clear about the company's IPO ambitions in the past, though he has been tight-lipped about any time frame. In an appearance at the Recode conference in May 2015, Spiegel said that "we need to IPO" and said the company has a plan to do so.

It's been revving up its advertising products to pump its revenue numbers. A recent eMarketer report predicts that the company will near $1 billion in advertising revenue in 2017 and nearly double that by 2018.

It's also been hiring professionals with IPO experience, including an accounting manager whose previous role included "IPO readiness".

Earlier this year, Business Insider noticed that Snapchat had also quietly added a seasoned IPO specialist, Stan Meresman, to its board in 2015, the latest sign that the fast-growing messaging app is preparing for a public-market debut even as it raises huge sums of money from private investors.

On his personal website, Meresman describes himself as a financial expert who "advises CEOs & CFOs on preparing to become a public reporting company, IPO process, operating as a public company, and scaling the company for rapid growth." He says he's guided four companies through their successful IPOs — LinkedIn, Zynga, Riverbed Technology, and Polycom — and he served as the CFO at chipmaker Cypress Semiconductor during its IPO.

The company's acting CFO, Drew Vollero, hasn't taken a company public before, but he has worked at a publicly traded one. Vollero joined Snapchat in August 2015 after spending 10 years at Mattel.

See photos of Evan Spiegel and fiancee Miranda Kerr:

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Miranda Kerr and Evan Spiegel
Miranda Kerr and her Snapchat CEO boyfriend, Evan Spiegel arrive at the state dinner in honor of President of Finland and the Prime Ministers of Norway, Sweden, Denmark and Iceland at the White House in Washington on May 13, 2016. / AFP / Olivier Douliery (Photo credit should read OLIVIER DOULIERY/AFP/Getty Images)
BEVERLY HILLS, CA - FEBRUARY 14: Miranda Kerr and Evan Spiegel arrives at the 2016 Pre-GRAMMY Gala And Salute to Industry Icons Honoring Irving Azoff at The Beverly Hilton Hotel on February 14, 2016 in Beverly Hills City. (Photo by Steve Granitz/WireImage)
BEVERLY HILLS, CA - FEBRUARY 14: Co-founder of Snapchat Evan Spiegel (L) and model Miranda Kerr attend the 2016 Pre-GRAMMY Gala and Salute to Industry Icons honoring Irving Azoff at The Beverly Hilton Hotel on February 14, 2016 in Beverly Hills, California. (Photo by Michael Kovac/WireImage)
LOS ANGELES, CA - MAY 03: (EXCLUSIVE COVERAGE) Co-founder and CEO of Snapchat Evan Spiegel and model Miranda Kerr attend the Berggruen Institute: 5 Year Anniversary Celebration at The Beverly Wilshire on May 3, 2016 in Los Angeles, California. (Photo by Vivien Killilea/Getty Images for Berggruen Institute)
LOS ANGELES, CA - FEBRUARY 15: Entrepreneur Evan Spiegel (L) and Model Miranda Kerr attend the Republic Records Grammy Celebration presented by Chromecast Audio at Hyde Sunset Kitchen & Cocktail on February 15, 2016 in Los Angeles, California. (Photo by Imeh Akpanudosen/Getty Images for Republic Records)
LOS ANGELES, CA - FEBRUARY 15: Entrepreneur Evan Spiegel and model Miranda Kerr attend Warner Music Group's annual Grammy celebration at Milk Studios Los Angeles on February 15, 2016 in Los Angeles, California. (Photo by JB Lacroix/WireImage)
LOS ANGELES, CA - AUGUST 12: Miranda Kerr and billionaire boyfriend Evan Spiegel are seen out and about leaving LAX on August 12, 2015 in Los Angeles, California. (Photo by HEV/BuzzFoto via Getty Images)
LOS ANGELES, CA - AUGUST 12: Miranda Kerr and billionaire boyfriend Evan Spiegel are seen out and about leaving LAX on August 12, 2015 in Los Angeles, California. (Photo by HEV/BuzzFoto via Getty Images)
BEVERLY HILLS, CA - FEBRUARY 14: Co-founder and CEO of Snapchat Evan Spiegel (L) and model Miranda Kerr attend the 2016 Pre-GRAMMY Gala and Salute to Industry Icons honoring Irving Azoff at The Beverly Hilton Hotel on February 14, 2016 in Beverly Hills, California. (Photo by Steve Granitz/WireImage)
Model Miranda Kerr and her boyfriend, Snapchat CEO Evan Spiegel, arrive for a state dinner for Nordic leaders at the White House in Washington, Friday, May 13, 2016. Nordic leaders are at the White house for a U.S.-Nordic Summit on security and economic issues followed by a State Dinner. (AP Photo/Andrew Harnik)
LOS ANGELES, CA - AUGUST 12: Miranda Kerr and Evan Spiegel are seen at LAX. on August 12, 2015 in Los Angeles, California. (Photo by GVK/Bauer-Griffin/GC Images)
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