Business News Startups

SnapChat raises fresh funding , is now worth $10 Billion : WSJ

tpnofeatured
Share on Facebook
Tweet about this on TwitterShare on Google+Share on StumbleUponShare on LinkedInPin on PinterestShare on Reddit

All sorts of rumours have been flying around on Secret. Some say Microsoft is in talks to acquire SnapChat, some say that the acquisition is “100%” confirmed.

Keeping aside those rumours, WSJ has reported that SnapChat has now attracted a fresh round of funding from Kleiner Perkins Caufield & Byers.

As per WSJ,

Kleiner has agreed to invest in the fast-growing ephemeral message service Snapchat Inc. at a valuation of close to $10 billion, people with knowledge of the matter said.

As per the new investment, which is worth $20 Million, the messaging start-up is now worth $10 Billion in valuation.

SnapChat was earlier rumoured to be attracting investment from Chinese e-commerce giant, Alibaba. But the news later fizzled out. SnapChat is by and large, raising this kind of money to support its SnapChat Discovery app. It also rumoured that SnapChat is planning to start its own ad network, in order to finally generate some revenue.


Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.


Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *