Parent company of social media service Snapchat files for initial public share offering

The parent of the fast-growing social network Snapchat has filed public documents for a share offering, seeking to raise up to US$3 billion (A$3.9 billion).

California-based Snap Inc., which had earlier filed confidential documents for an initial public offering, was expected to be one of the biggest tech company market debuts in recent years with a valuation likely to top US$20 billion (A$26 billion).

In documents filed with the Securities and Exchange Commission, Snap said it took in $404 million in revenue last year but lost $515 million.

Snapchat allows users to send self-destructing photo and video messages. 

The platform has expanded to included filters and effects to be added to messages.

One of Snapchat's founders, Evan Spiegel, is engaged to Australian model Miranda Kerr.