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New York - Snapchat will seek to raise as much as $4bn in its planned initial public offering, according to people familiar with the matter. The IPO could value Snapchat at about $25bn to $35bn, the people said, asking not to be identified as the details aren’t public. No final decision has been made and the size of the IPO may change, they said. The valuation could reach as much as $40bn, one of the people said. Valuations can vary in the lead-up to an IPO as companies may try to temper expectations among investors, while others on the deal are more likely to promote higher numbers. Snapchat, which recently changed its corporate name to Snap Inc., is preparing filings for a listing and aims to sell shares in the first quarter of next year, people familiar with the plans said earlier this month. Because the company’s revenue is less than $1bn, it plans to file IPO documents confidentially with the US Securities and Exchange Commission, one of the people said. A representative for Snapchat declined to comment. Slow Market A Snapchat IPO early next year could set the stage for a resurgence of technology listings after a slow 2016. Just nine technology companies have priced US IPOs this year, according to data compiled by Bloomberg, the fewest for seven years. The biggest among them, Twilio Inc., raised $172.5m in June and has more than doubled in value since its trading debut. The last buzzy consumer-tech listing in the US was in November 2015 when Match Group Inc., the online-dating powerhouse that owns Match.com, OKCupid and Tinder, went public at a valuation of $2.9bn. Snapchat chose Morgan Stanley and Goldman Sachs Group Inc. to lead its offering, giving the former its biggest advisory role on a technology IPO since it led Facebook Inc.’s tumultuous listing more than four years ago. JPMorgan Chase & Co., Deutsche Bank AG, Allen & Co., Barclays Plc and Credit Suisse Group AG will also be involved as joint book runners, the people said. The Los Angeles-based company makes an application for sharing selfies and videos, watching news videos and chatting with friends. After its last funding round, Snap’s private market value reached $18bn, meaning that its IPO would be the biggest of a social media company since Twitter Inc. sold shares in November 2013. The app has matured from a destination for sending silly annotated selfies into a media platform that advertisers are starting to take seriously. In the past year, the company has built out channels where news partners can create mini mobile magazines. Meanwhile, Snapchat also compiles its users’ short videos into live coverage of events around the world. Snapchat has pioneered some new forms of advertising, too - like sponsored lenses, the different filters that go on top of people’s selfies, designed by brands. Snap aims to generate more than $350m in advertising revenue this year, up from $59m in 2015, people with knowledge of the matter have said. Still, it’s early on its path. Twitter, which has fewer daily active users and a lower valuation, is expected to make bring in more than $2bn this year. Dlamini-Zuma is already fluent in Zuma Speak Dlamini-Zuma has clearly figured out which ANC faction has the biggest support and would make her president in the ANC’s elective conference, writes Max du Preez . Cape Town Arguments to be heard in DA’s urgent application to compel Zuma for reasons for Cabinet reshuffle Those who identify themselves as die-hard supporters of President Jacob Zuma were up in arms on Thursday and declared that we might as well hand over the country to the judiciary to run after the Pretoria High Court ruled that Zuma must submit his reasons for dismissing Pravin Gordhan and Mcebisi Jonas. The DA applied to the court to compel Zuma to supply his record of the reasoning behind his disastrous midnight Cabinet reshuffle in March. Many had expected the court to throw out the application on the basis that the president’s prerogative could not be interfered with. The common view was that a contrary judgment would skirt dangerously close to violating the principle of the separation of powers. Judge Bashir Vally will only give the reasons for the judgment on Tuesday. However, the matter is far from complete. After Tuesday, the DA may proceed with its application to review and possibly set aside Zuma’s decision. Zuma’s lawyers can be expected to fight hard to protect his rights. But whatever the final outcome, the good that came out of the court was the principle that transparency and accountability are always paramount in a constitutional democracy. Zuma, who has had a bad run in his court cases, will probably wallow in self-pity and believe that the courts are out to get him again. But the issue is bigger than him because whatever the precedent that will be set will be binding regarding future presidents, regardless of the party in power. That the Constitution allows Zuma “prerogative” powers does not mean he has an unfettered ability to act as he chooses. Legally, the issue must still be resolved, but, politically and economically, the reshuffle was a disastrous decision. Zuma’s fellow ANC leaders told him that the decision was not made in the best interests of the country, but to benefit him and his cronies. This presidential prerogative was not challenged during the tenure of Zuma’s predecessors precisely because, even if there were differences of opinion, there was not the suspicion that the country was being sold to private interests. As Zuma himself said after he was booed on Monday, this is part of a maturing democracy. Read more on: SHARE: 24.com publishes all comments posted on articles provided that they adhere to our Comments Policy . 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