Snapchat

Snapchat Raises $1.81 Billion in New Funding Round

Snapchat Raises $1.81 Billion in New Funding Round
Image credit: Reuters | Mike Segar
1 min read
This story originally appeared on Reuters

Messaging app Snapchat Inc. has raised $1.81 billion in an equity offering, indicating strong investor interest in the company despite concerns that it is struggling to attract advertisers.

Snapchat did not disclose its valuation in the latest round of funding in its filing on Thursday.

However, technology website TechCrunch reported on Monday, citing sources, that the company could be valued at about $20 billion.

Snapchat, which makes a free mobile app that allows users to send videos, photos and messages that vanish in seconds, has faced concerns that the company's estimated valuation is not justified because of its uneven revenue stream.

Investors in this round included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine and Fidelity, among others, TechCrunch reported on Thursday, citing sources.

Snapchat was not immediately available for comment.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Anil D'Silva)

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Leave Your Competition in the Dust With These Snapchat Marketing Strategies