Funding

Snapchat Raises $1.81 Billion

15 Views

What does Snapchat do?

Snapchat, is a photo messaging app which allows users to click photos, record videos, add drawings and text and send them to the recipients. This is the fastest way of sharing moments with friends. The users can control how long friends can see the message sent, simply by setting the timer up to 10 seconds and then send them. This is the amount of time the recipients have to view the message and then it will be gone forever. The app even informs the sender if the recipient takes a screenshot. With this app users can collect points, build relationships and see their best buddies. This app is good fun and very playful. Through this app you can show your friends how clever you are and the playfulness of being.

How much Snapchat was funded?

The photo messaging app raised $1.8B in Series F on May 26, 2016  from York Capital Management, Coatue Management, Fidelity Investments, Glade Brook Capital Partners, IVP (Institutional Venture Partners),  T. Rowe Price, Lone Pine Capital, General Atlantic and Sequoia Capital.

Previous funding

  • $485k on May, 2012 from Lightspeed Venture Partners
  • $12.5M in Series A on February 8, 2013 from Benchmark, SV Angel, Lightspeed Venture Partners
  • $80M in Series B on June 22, 2013 from General Catalyst Partners, Lightspeed Venture Partners, Benchmark, Tencent Holdings, SV Angel,  IVP (Institutional Venture Partners)
  • $20M on June 23, 2013
  • $50M in Series C on December 11, 2013 from Coatue Management
  • $485M in Series D on December 31, 2014 from Kleiner Perkins Caufield & Byers, HDS Capital, GIC and Yahoo!
  • $200M in Series E on March 12, 2015 from Alibaba and Kingdom Holding Company

What is next for Snapchat?

Snapchat plans to use the latest funding raised for hiring new talent, buying and investing in smaller start ups and researching and developing new things, smart glasses being one among the different rumors,

More about Snapchat

Snapchat was founded on May 1, 2011 by Evan Spiegel and Bobby Murphy. It has its headquarters in Pacific Palisades, CA.

 

Related Posts