Snapchat Raises $537.6 Million

What does Snapchat do?

Snapchat, is a photo messaging app which allows users to click photos, record videos, add drawings and texts and send them to people they like. It is the fastest way to share a moment with friends. Users can control how long their friends can view their messages. A timer up to ten seconds can be set and the content can be sent. The people who receive your message have that long to view the message and then it forever disappears. The app informs the user if the receivers take a screenshot.

With this app you can build relationships, collect point and view your best friend. It is fun and very playful. With this app you can show your friends how smart you can be and enjoy the lightness of being.

How much Snapchat was funded?

Snapchat raised $537.6 M in Series F on May 29^th, 2015

Previous funding

• • $80Min Series B on June 22, 2013 from Tencent Holdings, Lightspeed Venture Partners, SV Angel, Benchmark, Institutional Venture Partners (IVP) and General Catalyst Partners
  • $20Min Secondary Market on June 23, 2013
    • $12.5Min  Series A funding on December 1, 2012 from SV Angel, Benchmark and Lightspeed Venture Partners
    •   $485k in Seed funding on May 1, 2012 from Lightspeed Venture Partners
    • $50M in Series C funding on December 11, 2013 from Coatue Management
    • $485Min  Series D funding on Dec ember 31, 2014 from August Capital, GIC, Yahoo!  and Kleiner Perkins Caufield & Byers
    •  200M  in Series E funding on Mar ch12, 2015 from Alibaba

What is next for Snapchat?

Snapchat has plans for an initial public offering and is not expecting to consider any acquisition offers.  This week the app is approaching 100 M daily active users in developed markets and 65% of them create content on the app every day.

More about Snapchat

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