Snap is set to float and the business is expected to be valued at between $20bn and $25bn – yet it has never made a profit.
With a core audience of teens and messages which delete after viewing, Snapchat is alien to many mature social media users.
It clearly has something special going on – a certain American tech entrepreneur has tried to buy Snap several times, only to be knocked back repeatedly.
So what do you know about Generation Y’s social media platform of choice? And what do you know about Snap Spectacles?
Delve into lenses, filters and celebrity shenanigans by taking our quiz below.