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Snapchat looking for $80 million funding for $800 million valuation


Snapchat has recently been looking for a second round of funding and reports now state the company has gained $80 million in funding from Institutional Venture Partners. This funding would put Snapchat at an $800 million valuation, a little lower than previously expected.

While Snapchat may not be a $1 billion company just yet, they have been making strides with the user-base. While we do not have exact figures on the userbase, reports claim there could be around 5 – 10 million active users on the app. Snapchat is very popular with younger audiences and there are over 150 million photos shared daily.

Snapchat seems to be going out on its own stride at the moment, with the second round of funding showing they do not want to be bought out by a larger Internet company. There has not been a huge amount of speculation about Snapchat’s buyout, although Facebook was seen for a time to be a potential candidate.

Source: TechCrunch

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