(CNN) – Evan Spiegel, the founder and CEO of the popular messaging service, revealed Tuesday that his company is preparing for an initial public offering, but wouldn’t provide details on timing.
“We need to IPO. We have a plan to do that,” he said during a talk at an annual Re/code conference in Rancho Palos Verdes, Calif.
Spiegel also said that there’s no doubt the current tech bubble will burst.
“I think that people are making riskier investments and … there will be a correction,” he said in an interview with Re/code’s Kara Swisher and Walt Mossberg. “[I]t’s definitely something we factor into our plans.”