Snapchat Is Now A $10 Billion Dollar Company
Snapchat / Apple iTunes
The messaging app now has 100 million users, to the WSJ report.
Rumors of a new funding round for Snapchat started last month when several reports said Chinese ecommerce company Alibaba wanted to invest. But Business Insider discovered that was a bogus rumor.
Snapchat's valuation has shot up tremendously in a very short period. Last year the company was valued at $3 billion, a figure now dwarfed by their current value.
Kleiner Perkins' investment is not the end of Snapchat's near-term fundraising efforts. The current investment round remains open. The Wall Street Journal noted that "at least one strategic investor" yet unnamed has committed to the round as well.
You can expect Snapchat and its investors to formally announce the new round of funding very soon.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh
- Deloitte projects India's FY25 GDP growth at 6.6%
- Italian PM Meloni invites PM Modi to G7 Summit Outreach Session in June
- Markets rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
- Sustainable Waste Disposal