Wednesday, August 27, 2014
Report: Snapchat Valued At $10 Billion In New Funding
Venice-based Snapchat is in the midst of raising a new round of funding, led by storied venture capital investor Kleiner Perkins Caufield & Byers, which valued the company at close to $10 billion, according to a report. Citing "people with knowledge of the matter", the WSJ said that the deal comes despite Snapchat having no revenues, but makes it among one of the most valuable startups on the market. The report also said that Snapchat has around 100 million monthly active users now using its messaging service.