An Interest In:
Web News this Week
- April 25, 2024
- April 24, 2024
- April 23, 2024
- April 22, 2024
- April 21, 2024
- April 20, 2024
- April 19, 2024
Some of Our Sources
- Simplebits
- TutsPlus - Code
- Pearsonified
- Smashing Magazine
- My Ink Blog
- Web Resource Source
- Android Dissected
- Willems Lab
- Daily Now
- Hashedout
Help Webnuz
Referal links:
December 12, 2013 01:01 am GMT
Amid rumors of a $3 billion acquisition offer from Facebook and a potential $200 million funding round, turns out that ephemeral messaging sensation Snapchat has actually raised $50 million in Series C funding. Co-founder Evan Spiegel has exclusively confirmed with TechCrunch that the $50 million was from a single investor, with no secondary offering. However, there is no word on who that investor might be, or whether or not it was a previous investor. Spiegel did say that the money will go toward growing the business. The SEC filing reveals nothing. Rumors have been swirling recently that Snapchat was looking to raise $200 million, potentially from Tencent, at a valuation north of $3 or $4 billion. Spiegel has mentioned Tencent, and it’s chat subsidiary WeChat in particular, as an interesting company to learn from. However, it’s now confirmed through court documents and TechCrunch’s inside sources that Tencent has already invested in Snapchat, likely during the Series B round. But that doesn’t mean that Tencent isn’t solely responsible for this latest round, either. According to Crunchbase, this $50 million puts Snapchat’s total investment at no less than $123 million, and without a revenue stream in sight. And honestly, it doesn’t seem to matter right now. Snapchat announced recently that it sees over 400 million snaps sent per day, which is more than Facebook’s daily photo uploads. Though the company doesn’t publicly disclose numbers, it is rumored to have around 30 million monthly active users. However, TechCrunch has confirmed that Snapchat actually has more than that. Previous investors include Light Speed Ventures, who led a small seed round, Benchmark and SV Angel, who joined Lightspeed and invested $12.5 million in Series A, as well as IVP and General Catalyst, who contributed to a massive $60 million Series B round in June. Word on the street is that the last round was actually closer to $80 million, with $20 million going toward founder liquidity.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YYbha8nnF3M/
Snapchat Raises $50 Million In Series C From A Single, Undisclosed Investor
Amid rumors of a $3 billion acquisition offer from Facebook and a potential $200 million funding round, turns out that ephemeral messaging sensation Snapchat has actually raised $50 million in Series C funding. Co-founder Evan Spiegel has exclusively confirmed with TechCrunch that the $50 million was from a single investor, with no secondary offering. However, there is no word on who that investor might be, or whether or not it was a previous investor. Spiegel did say that the money will go toward growing the business. The SEC filing reveals nothing. Rumors have been swirling recently that Snapchat was looking to raise $200 million, potentially from Tencent, at a valuation north of $3 or $4 billion. Spiegel has mentioned Tencent, and it’s chat subsidiary WeChat in particular, as an interesting company to learn from. However, it’s now confirmed through court documents and TechCrunch’s inside sources that Tencent has already invested in Snapchat, likely during the Series B round. But that doesn’t mean that Tencent isn’t solely responsible for this latest round, either. According to Crunchbase, this $50 million puts Snapchat’s total investment at no less than $123 million, and without a revenue stream in sight. And honestly, it doesn’t seem to matter right now. Snapchat announced recently that it sees over 400 million snaps sent per day, which is more than Facebook’s daily photo uploads. Though the company doesn’t publicly disclose numbers, it is rumored to have around 30 million monthly active users. However, TechCrunch has confirmed that Snapchat actually has more than that. Previous investors include Light Speed Ventures, who led a small seed round, Benchmark and SV Angel, who joined Lightspeed and invested $12.5 million in Series A, as well as IVP and General Catalyst, who contributed to a massive $60 million Series B round in June. Word on the street is that the last round was actually closer to $80 million, with $20 million going toward founder liquidity.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YYbha8nnF3M/
Share this article:
Tweet
View Full Article
Techcrunch
TechCrunch is a leading technology blog, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.More About this Source Visit Techcrunch