July 9-10, 2013
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Your self-destructing Snapchat messages could help Snapchat pull in another $100 million.
That’s the amount attached to Snapchat’s rumored upcoming funding round, which could be valued at nearly half a billion dollars, sources tell GigaOm.
The funding rumor comes just months after Snapchat raised $135 million in a funding round led by Benchmark Capital. The company has raised $14 million to date.
Snapchat, which launched in 2011 and just recently landed on Android, said in April that its 5 million daily active users upload 150 million images per day. That a lot of activity, though I wonder if it’s quite enough to warrant a $100 million funding round.
Well-funded or not, Snapchat’s most pressing issue is challenging the notion that it’s just a glorified sexting app. As Snapchat CEO Even Spiegel said in April, “I don’t think it’s a great tool for sexting. We notify you about screenshots. It’s not a great way to send inappropriate content.”
Photo: Sean Ludwig/VentureBeat
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