Snapchat valued at $10 billion after latest financing round

Snapchat valued at $10 billion after latest financing round
According to an SEC Form D that was filed in 2014, messaging app Snapchat recently raised $485 million. More importantly, this latest round of financing, led by Venture Capital firm Kleiner Perkins, was accomplished at a cool $10 billion valuation for the company. 23 investors took part in the equity sale. Snapchat is known best for its self destructing messages, which disappear ten seconds after being read.

To show you how successful businessmen get rich, it was just in June of 2013 when the company raised $60 million at a valuation of $800 million. Just five months later, offers of $3 billion and $4 billion from Facebook and Google respectively, were turned down just two days apart. By this August, Snapchat was said to be valued at $10 billion. The company originally was seeking to raise $900 million with this latest financing round, but that was considered too ambitious a target and was cut in half.

Snapchat is believed to be spending $30 million a year with $15 million of that going to Google for hosting its photos. The company is rumored to be paying $3 million a month in legal fees (ouch!). Revenue does come in from the sponsored "Our Stories" and from Amazon's disappearing deals to members.

Snapchat is said to currently have close to 200 million average users each month, double the amount it was believed to have in August.

Snapchat raises over $485 million with its latest funding round

Snapchat raises over $485 million with its latest funding round


source: SEC via TechCrunch

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10 Comments

1. microsoftnokiawin

Posts: 1268; Member since: Mar 30, 2012

and yet they can't still develop their app for smaller platforms

3. g2a5b0e unregistered

Can't & won't are two very different things. Perhaps you should learn the difference.

4. microsoftnokiawin

Posts: 1268; Member since: Mar 30, 2012

in context can't and won't are very similar in this scenario

5. Liveitup

Posts: 1798; Member since: Jan 07, 2014

Something smells fishy. Any company no matter how many existing users they have on iOS and Android is completely idiotic to ignore another 50-80 million users on another platform.

6. mildorzalost

Posts: 143; Member since: Jun 03, 2014

I refuse to use snapchat since they don't want to develop for WP... time to move on

7. g2a5b0e unregistered

Sounds like sour grapes to me.

9. kmix1987

Posts: 10; Member since: Dec 07, 2010

Well I'm sure they CAN, they are probably just trying to focus on the relevant platforms right now, then side project on the WINDOWS and maybe the WII or something.

2. Neros

Posts: 1016; Member since: Dec 19, 2014

I don't even know wbat snapchat is.

8. Tritinum

Posts: 471; Member since: May 06, 2014

you send picture messages which self destruct in 10 sec or less and if you quickly screenshot the message the sender will get a notice.

10. great

Posts: 85; Member since: Jan 21, 2013

$wag chat !

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