Everyone’s favorite disappearing picture app is getting very good at making money appear — at least from investors.
Snapchat has raised a massive $1.8 billion round of funding, a move that should keep it flush with cash as it attempts to make a business out of its app.
The funding round was disclosed in a filing with the Securities and Exchange Commission. The new investment brings Snapchat’s total funding to $2.65 billion, according to Crunchbase
The funding announcement comes just six months after Snapchat had become the poster child for what many believed was a bubble in private tech valuations. Investment firm Fidelity slashed the value of its stake in Snapchat, causing some to wonder whether the industry had been overly optimistic about some of its brightest stars. Read more…
More about Messaging App, Business, and Snapchat
