Snapchat co-founders Evan Spiegel and Bobby Murphy are about to become billionaires.
Spiegel, 26, and Murphy, 28, were already paper billionaires, but Snap has publicly filed paperwork for an IPO, and an amended S-1 document filed Thursday with the Securities and Exchange Commission shows the company hopes to sell its stock between $14 and $16 per share.
More from Recode:
Snapchat is the most relevant platform for content and marketing, says AwesomenessTV CEO
Facebook is rolling out job postings and applications
CEO Jack Dorsey just bought $7 million in Twitter stock
Update: Sources tell Recode the company is planning to price the stock on March 1, and list the stock on the New York Stock Exchange March 2. Business Insider previously reported this schedule.
At the high end, that would put Snapchat's valuation at roughly $18 billion, according to the total number of shares outstanding. If you add in things like restricted stock units for employees and executives, plus a nice bonus for Spiegel, the valuation could jump to over $22 billion.
That means all of Spiegel's and Murphy's shares are about to be worth some serious money on the New York Stock Exchange. A few other executives, plus a bunch of investment funds, will also get rich.