May
26
Snapchat Valued at $18 Billion in Funding Round
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Messaging startup closed a round totaling $1.8 billion
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Company said to generate $59 million in 2015 revenue
Snapchat Inc., an app for sending disappearing messages, was valued at $18 billion after its latest round of funding, said a person familiar with the matter. The financing pads the startup’s war chest as it attempts to evolve from a teen phenomenon into a mainstream media platform.
The funding round totaled $1.8 billion, according to a regulatory filing on Thursday with the Securities and Exchange Commission. The amount includes about $650 million raised last year and an additional $1.2 billion this year, said the person, who asked not to be named because the details are private…
Snapchat Valued at $18 Billion in Funding Round
