Oh Snap

Now At 200 Million Pics Daily, Snapchat Raises $60 Million

But how many of those photos are nudies?
Smiles for funding.

Smiles for funding.

Disappearing (kind-of) photo service Snapchat has just finished raising $60 million in its Series B financing, the company announced this morning.

This brings the company’s fundraising total to $75 million to date, All Things D reports. The funds will be used “mostly for server builds and hiring purposes,” co-founder Evan Spiegel told All Things D.

Snapchat has become insanely popular since its inception two years ago, with everybody from tweens to Wall Streeters now sending more than 200 million snaps each day, the Snapchat blog reports. That’s a lot of selfies.

The company has only 17 employees as of this morning, All Things D reports, and also welcomed Sony Entertainment CEO Michael Lynton as a new independent board member.

Mr. Spiegel wouldn’t tell All Things D when the app will begin to monetize, though he admitted such changes could come “in the medium term.” He added that the company is “excited about in-app transactions because of what we’ve seen in the Asian markets,” as well as native advertising, so maybe your next dick-pic could arrive with a side of Sony ad.

All Things D also notes:

“I’ve heard chatter about Facebook’s interest in acquiring Snapchat over the past year; the social giant went as far as to clone Snapchat by shipping ‘Poke,’ a complete ripoff product which ended up failing miserably in terms of use and downloads. I’ve heard Mark Zuckerberg has taken a direct, intense interest in Snapchat, but the startup has rebuffed any suggestion of acquisition offers from Facebook.

‘Acquisitions can be pretty distracting,’ Spiegel said. ‘We feel like this is early innings in a highly competitve [sic] marketplace. We’re just really focused on building right now.’

Good for Snapchat, but if such an acquisition means all our dumb, unflattering snaps will be tangentially linked to our Facebook profiles, we might have to move on to the next smartphone craze, whatever it may be.

Follow Molly Mulshine on Twitter or via RSS. mmulshine@observer.com