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Snapchat valued at $500 million?

Written by Andre Yoskowitz (Google+) @ 08 Jun 2013 13:29 User comments (3)

Snapchat valued at $500 million? Snapchat has raised almost $100 million in new funds, valuing the company at over $500 million.
The service allows Android and iOS users to send and receive photos and videos that disappear after a certain amount of time (under 10 seconds).

Two months ago, the company raised $13.5 million from Benchmark Capital and the new $100 million is from undisclosed investors.

Snapchat has seen huge growth in value since February when it was valued at $70 million. CEO Evan Spiegel says users upload 150 million images per day, up from 20 million last October. The app has 5 million active users.

It is unclear why the valuation is so high, especially since the app has yet to monetize its userbase.

Tags: Snapchat
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3 user comments

18.6.2013 14:23

Sounds like nothing but a sexting app.

28.6.2013 18:37

snapshot that "O" face already.

39.6.2013 21:49

Half a bill'... give me a break.

Its a lot easier being righteous than right.

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