When social app Snapchat turned down a $3bn acquisition offer from Facebook last year, pundits scoffed at the hubris of its co-founders, and predicted a swift fall from grace. It’s not happening just yet: Snapchat’s latest funding round values the company at $10bn. That’s according to the Wall Street Journal, which reports that VC firm Kleiner Perkins Caufield & Byers is investing up to $20m in a new funding round for the currently revenue-less Snapchat, at the $10bn valuation. A significant jump from the $7bn valuation at which investment firm DST Global backed the company earlier this year. The WSJ claims that Snapchat’s total funding to date has now reached $160m. A separate report from the same site adds that Snapchat now has more than 100m monthly active users, with around two thirds of them using it every day. Still a long way from the 600m monthly active users of messaging app WhatsApp, which Facebook is paying $19bn to acquire.
Visited 1 times, 1 visit(s) today