Snapchat Raises $13.5M

Snapchat, a Venice Beach, California-based photo and video message app, raised a $13.5m in venture capital funding.

The round was led by Benchmark Capital. In conjunction with the funding, Benchmark’s Mitch Lask will join the company’s board of directors.

According to reports, the company intends to use the capital for hiring and servers, as well as for community growth.

Founded in May 2011 by Evan Spiegel and Bobby Murphy, Snapchat gives users the opportunity to control how long their friends can view the message they send.
The app is available on iPhone and Android.



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