So Snapchat Raised Nearly $500M, But What About Revenue?
At the end of 2014, Snapchat revealed it had received almost half a billion dollars in investments, most likely pushing its value beyond $10 billion.By Jake Godin | January 2, 2015
Snapchat, the wildly popular smartphone app used for sharing photos, rang in the New Year with a surprise announcement — the barely 3-year-old company raised almost half a billion dollars in investment funding.
In what was the first peek into Snapchat's fundraising, the company revealed on Dec. 31 it had raised a whopping $485.6 million dollars from 23 investors.
According to TechCrunch's sources, Snapchat had originally set out to raise $40 million, raised it to $900 million after interest in the round exploded, then settled for $500 million after that proved to be too much.