Snapchat is said to be raising a new round that values the company somewhere between $16 billion and $19 billion.
According to Bloomberg, the ephemeral photo sharing company aims to raise as much as $500 million in the new round. Reached by VentureBeat, a Snapchat spokesperson declined to comment on the claim.
This news arrives three or so weeks after Snapchat unveield Discover, a service which delivers content from major media brands to Snapchat’s massive user base. Snapchat partners include Comedy Central, Food Network, CNN, National Geographic, Yahoo, and Warner Music Group.
Snapchat is a photo messaging application developed by four Stanford students. Using the app, users can take photos, record videos, add text and drawings, and send them to a controlled list of recipients. Users set a time limit for how… read more »
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