Snapchat of Venice is telling investors that it expects to generate $300-350 million in revenue this year, according to several sources cited by Re/code.

The company has not disclose its official 2015 revenue total last year, but some reports put the number at $50 million.

Snapchat has been working to boost its advertising revenue in recent months by reorganizing the way it sells ads and opening its ad performance to ratings from Nielsen. Most of the company’s revenue comes from advertising sales, though it also makes some money from selling digital goods, such as the ability to call back vanished content for $1.

Snapchat recently raised $175 million from Boston’s Fidelity Investments at a $16 billion valuation, the same valuation the company raised money at last year.

Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.