Popular Social Media App, SnapChat Has Now Raised $2.6 billion In Funding In 5 Years Since It Was Founded
May 17, 2017
Remember when people mocked the idea that Facebook would be willing to pay Billions of Dollars to acquire Snapchat?
Do you also remember how Evan Spiegel and Bobby Murphy, owners of Snapchat were smart to turn down Mark Zuckerburg’s initial offer of $3B to buy their app?
Snapchat confirmed in a recent filing that it has raised another USD 1.8B (yes with a “B”) in Funding.
The startup’s valuation, with that new capital included, is reportedly hovering around $20 billion.
Yes, $20 Billion for the Akant O!
The ever increasing valuation may be what grabs headlines (though it’s less crazy if Snapchat is really on the cusp of generating $1 billion in annual sales), but it’s the vast amount of capital now in Snapchat’s snapbank account that really deserves more attention.
Snapchat has now raised $2.6 billion in funding in the five years since it was founded, according to data from CrunchBase, a startup funding database. That is actually slightly more private capital than the $2.4 billion Facebook raised over an eight-year period before its 2012 public offering.
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