Five years after the launch of Snapchat, Snap is planning to go public. The company filed for an initial public offering on the New York Stock Exchange today, picking the ticker symbol “SNAP.” The company hopes to raise $3 billion and says it has 158 million daily active users. The IPO would reportedly value the company above $20 billion.

The company says its advertising business is growing quickly. It reported $58.7 million in revenue for 2015, and grew that to $404.5 million in 2016. Along with that strong revenue growth, however, its losses also swelled. Snapchat lost $372.9 million in 2015 and $514.6 million this past year, more than its total revenue.

Based on the information from the filing, we see that co-founders Evan Spiegel and Bobby Murphy, each own roughly 22.2% of the company prior to its IPO, though this number will change once Snap goes public. For comparison, Mark Zuckerberg owned 28.2% of Facebook at the time of its IPO filing.

If you calculate their total shares times the share price of the last private round ($15.36, due to a stock split), this means each founder owns about $3.5 billion of the company, Hari Raghavan from Equidate points out. Using the same method, we see that Benchmark and Lightspeed Venture Partners own about $2 billion and $1.3 billion, respectively.

Snap previously authorized a new class of shares that would help founders Evan Spiegel and Bobby Murphy retain control of the company. According to the filing, each co-founder presently holds 44.3% of voting rights. Benchmark holds just 2.7% and Lightspeed has 1.8%.

And now we can see another reason: Spiegel’s investors have given him a huge incentive to go public. Once Snap finishes its IPO, the company will give him another 3 percent of its shares.

If Snap goes out at a value of $25 billion, those shares will be worth $750 million; assuming the company gets a “pop” in valuation when it actually starts trading the shares will be worth even more.

A $750 million bonus is a very nice pay day for a normal person, but Spiegel isn’t a normal person: Even without the bonus, his 22% stake in Snap would be worth about $5.5 billion. Adding in the extra shares will get him to about $6.25 billion.

Snapchat admitted in its IPO filing’s risk factors that “We face significant competition in almost every aspect of our business both domestically and internationally,” listing many companies including Facebook and Instagram. Then it noted, “For example, Instagram, a subsidiary of Facebook, recently introduced a “stories” feature that largely mimics our Stories feature and may be directly competitive.”

The average daily user opens Snapchat 18 times a day and uses it for 25 to 30 minutes, with 60 percent of them creating Snaps and/or using its chat feature daily.

One person who will not share in their glory is Reggie Brown, who went to Stanford with both men and claimed he came up with Snapchat's core idea of disappearing photos.

Brown filed a lawsuit against Spiegel and Murphy in 2013 after he was forced out of the company and not given equity. On Thursday, Snap disclosed for the first time that it paid a total of $157.5 million to settle with Brown.

As part of the settlement, Snap said it agreed to pay Brown a total of $157.5 million in cash, $50 million of which was paid in 2014 and $107.5 million of which was paid in 2016. The settlement ended up being much less than the more than $500 million Brown originally asked for.

Snap Inc., plans to spend $400 million a year on Google Cloud services over the next five years, according to documents filed

"When we say 'kind,'” Snap explains, "we mean the type of kindness that compels you to let someone know that they have something stuck in their teeth even though it’s a little awkward. We care deeply about kindness because we want to create a space that helps to give our team the courage to create. We think our team feels comfortable creating new things because they are surrounded by the kindness of their peers and know they have our support."

"One of the ways we reinforce the importance of listening is by practicing it with each other. We have created a bi-weekly “Council” program for our team that encourages team members to express themselves and listen to others. We believe that this type of sharing teaches and reminds our team to listen and learn from those around them."

"Another thing that makes our team special is the ability to adapt. We’ve learned over time how important it is to hire people who are not only experienced, but also adaptable. We focus on understanding adaptability as part of the interview process and we evaluate it by understanding the life decisions that have brought each team member to our company."