Snapchat CEO says company plans to IPO, does not specify when

[RANCHOS PALOS VERDES] Snapchat CEO Evan Spiegel said on Tuesday the company plans to have an initial public offering but did not specify when that would happen.

"We have to IPO," Mr Spiegel said during a talk at a technology conference hosted in Ranchos Palos Verdes, California, by technology online-only publication Re/code. "It's just another dot on the list of things to do," Mr Spiegel added.

In 2013, Snapchat turned down a US$3 billion offer from Facebook to acquire the company. Alibaba poured US$200 million into the ephemeral photo- and video-sharing app in March at a valuation of US$15 billion.

REUTERS