June 7, 2013 / 8:30 PM / in 5 years

Snapchat could soon snap up a fresh $100 million in funding

July 9-10, 2013

San Francisco, CA Tickets On Sale Now

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

Filed under: Deals

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below