Snapchat Raises $60 Million, Tops 200 Million Messages a Day

Snapchat is on its way to proving that self-destructing messages are a business that won't disappear.

Snapchat announced Monday that it has closed a Series B round of funding from IVP, General Catalyst, Benchmark Capital and others to "continue scaling" the company.

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AllThingsD reports that the company raised $60 million at a valuation of $800 million. In total, that Snapchat has raised $75 million to date.

Snapchat did not immediately respond to our request for comment.

IVP, which led the round, said it normally invests in businesses with $20-$100 million in revenue, but made an exception for Snapchat, which has yet to start monetizing. The firm highlighted Snapchat's valuable young demographic, the fact that it's mobile-first and a belief in the founder's vision for growing the business as reasons to invest.