hoping for a valuation of 25 billion dollars.

The app, if it manages to raise the three billion that it hopes to, will be the third biggest US tech IPO,

following companies like Chinese e-commerce giant Alibaba and facebook which itself raised 16 billion during its IPO.

The company first gained fame for being an explicit photo-messaging app for young teens,

Snapchat now brands itself as a camera app, and it wants its users to be playful,

making it one of the most well-loved augmented reality apps.

A range of filters allows users to constantly play around, causing endless hilarity.

Snap Inc's business is no child's play.

It hopes to raise three billion dollars and what would be one of the biggest tech IPO of recent years., according to new documents.

The company listed three risk factors in its ability to grow: Brexit, competition from larger companies such as facebook or Tencent,

and possibly the most important one, Snap Inc has never turned a profit.

Could this possibly turn its dream of a successful IPO into a nightmare?