Snap IPO now has a price tag

The parent company of messaging app Snapchat priced shares for its initial public offering between $14 and $16, which could value the company at well over $20 billion.

Snap updated its filing with the Securities and Exchange Commission, noting it will sell 145 million Class A shares, with an additional 55 million offered by selling stockholders.

The company will begin trading on the New York Stock Exchange under the ticker symbol SNAP.

If the valuation holds, Snap's IPO would be one of the biggest in tech since 2014, when Chinese e-commerce giant Alibaba made its Wall Street debut. The much larger Alibaba raised $21.8 billion, boasting a valuation of more than $170 billion.

Snap is seeking to raise $3 billion through its offering.

Although Snapchat is among the most popular messaging apps, specifically with younger smartphone owners, its parent company is losing money. Last year, Snap finished with total losses topping $500 million, higher than the $373 million lost in 2015.

Follow Brett Molina on Twitter: @brettmolina23.