Snap Inc., formerly known as Snapchat, is looking to raise as much as $4 billion in a potential initial public offering, Bloomberg reported.
Sources told Bloomberg that the IPO could value the company between $25 billion and $35 billion, but could climb as high as $40 billion. Sources previously told CNBC that Snap could IPO in March at a $25 billion valuation, but that these details were subject to change.
Snapchat declined to comment to CNBC "on these speculative stories."
Earlier this month, CNBC confirmed that Snap has hired Morgan Stanley and Goldman Sachs to lead its IPO. Sources told CNBC that the company plans to confidentially file its IPO before the end of the year.
— CNBC's Mike Newberg and Kayla Tausche contributed to this report.