Snapchat's IPO filing shows its advertising strategy is paying off.

Snapchat parent Snap Inc. filed to go public on Thursday afternoon.

With a valuation reported to be as high as $25 billion, Snap is expected to be the largest public debut of any US-listed technology company since Alibaba (BABA) went public in 2014. 

Investors were able to get a closer look at several key numbers of the notoriously secretive company. According to its SEC filing, the company recorded revenue of $404.5 million and a loss of $514.6 million in 2016, compared to revenue of $58.7 million and a loss of $372.9 million for the year ending December 2015. This represents a year-over-year increase of more than 6 times.

And the company noted that it generates substantially all of its revenue from third-party advertising. In 2016, advertising revenue accounted for 96% of Snapchat’s total revenue.

Melody Hahm.

Full story at Yahoo News.