Snapchat Rakes in Another $50 Million in Funding

Snapchat, the app that lets users share photos and videos that then disappear, has raised an additional $50 million in funding, according to a Securities and Exchange Commission document filed Wednesday.

The document does not specify the identities of the new investors, and Snapchat did not immediately respond to Mashable's request for comment. The news was first reported by Fortune.

The $50 million Series C round joins the $80 million round — $20 million of which was given to its cofounders — that Snapchat raised in June at a reported $800 million valuation. Wednesday's raise is much smaller than the $200 million funding the company was reportedly looking for Read more...