Report: Snapchat Expects $300M To $350M In Revenue In 2016

Venice, California-based Snapchat reportedly is hoping to generate between $300M and $350M in revenue this year, according to a report published Tuesday. The report, from Recode, cited "multiple sources" in the sales target. Snapchat--which has yet to publicly announce financials--apparently hit a "$100M run rate", but not actual yearly revenue, in Q4 of last year. Snapchat has a valuation of over $16 billion, but also has seen massive user adoption of its messaging apps and features such as Snapchat Stories and Snapchat Discovery.