Messaging App Snapchat Raises $1.8 Billion; Valued at $18 Billion

snapchatSnapchat, Inc., the Los Angeles, CA-based provider of one of the most popular messaging apps, raised approx. $1.8 billion in Series F funding.

The round, which has been unveiled today via a regulatory document filed with the SEC, values the company at nearly $18 billion.

Investors reportedly include T. Rowe Price, Sequoia Capital, Glade Brook Capital, General Atlantic, Fidelity Investments, Lone Pine Capital, Institutional Venture Partners (IVP), Coatue Management, among others.

The form lists co-founders Even Spiegel and Robert Murphy, Chief Strategy Officer Imran Khan, CFO Andrew Vollero, Benchmark General Partner Mitch Lasky, Joanna Coles, Stanley Meresman and Michael Lynton as people related to the offering.

With over 110 million users, Snapchat allows users to snap a photo or a video, add a caption, and send it to a friend with the snapped item quickly disappearing from the screen. It is available both for iOS and Android devices.

The company is massivery hiring.




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