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Snapchat valued at $10bn after funding boost

January 5, 2015

Snapchat has raised another $486m in funding, with 23 investors joined the offering, according to new SEC filings made recently.


snapchat%20logo2.jpg
The recent SEC filing leaves those investors unidentified, but reports from Bloomberg and TechCrunch both suggest technology company Yahoo and venture capital firm Kleiner Perkins Caufield & Byers were involved in the round.
The funding brings the total raised by Snapchat to more than $649 million. It comes just four months after raising $20 million at a $10 billion valuation in August.
Snapchat’s previous investments came from VCs including Benchmark, Kleiner Perkins, and General Catalyst Partners.
The round values Snapchat at $10bn, little over a year after the company rejected a $3bn acquisition offer from Facebook.
The details of the funding round were revealed at the end of a year that has seen rapid growth for Snapchat, which is thought to now have 200 million active users sending photos and videos to one another – up from 100 million earlier in 2014.
Snapchat has also made its first steps towards making money, launching its first advertisement – a 20-second trailer for horror film Ouija, paid for by studio Universal Pictures – in October.

Uncategorized Facebook, technology, Yahoo

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