Snapchat raised $1.81 billion in a new funding round


evan spiegel

AP Photo/Jae C. Hong

Evan Spiegel, Snapchat CEO.

(Reuters) - Messaging app Snapchat Inc has raised $1.81 billion in an equity offering, indicating strong investor interest in the company despite concerns that it is struggling to attract advertisers.


Snapchat did not disclose its valuation in the latest round of funding in its filing on Thursday.

However, technology website TechCrunch reported on Monday, citing sources, that the company could be valued at about $20 billion.

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On Thursday, TechCrunch published a Snapchat presentation deck it says was leaked to the publication by a source who was approached to invest.

The deck shows Snapchat's revenues for the last quarter of 2015 were $59 million. However, it projects full-year revenue of between $250 million and $350 million in 2016. For 2017, it expects revenue to rise to $500 million to $1 billion.


The leaked deck also reveals Snapchat had 110 million daily active users in December 2015.

Investors in this round included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine and Fidelity, among others, TechCrunch reported on Thursday, citing sources.

Snapchat was not immediately available for comment.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Anil D'Silva, Reuters and Lara O'Reilly, Business Insider)