Snapchat Valued at $10 Billion, Raising Almost $486 Million Funding

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Investors are keen to get onto the next big thing and, clearly, with this kind of valuation, Snapchat must be one of the darlings.

Snapchat Inc., among a pack of elite technology startups that has attained a valuation of $10 billion or more, capped the year with a filing that disclosed it raised $485.6 million.

The Los Angeles-based company, which makes a mobile application for sending annotated photos that disappear within seconds, said in the filing that it raised the money from 23 investors. Snapchat, led by Chief Executive Officer Evan Spiegel, didn’t disclose the investor names or the company’s valuation. Snapchat Valued at $10 Billion, Raising Almost $486 Million Funding [bloomberg.com]

It doesn't seem so bad turning down the offer Report: Snapchat Turns Down Acquisition Offer of $3 Billion From Facebook [webmasterworld.com]