Fresh Funding

Snapchat Is Reportedly Close to Raking in $100 Million in Fresh Funding So Happy Friday!

Your sexts are worth a half of billion dollars, apparently.
Smiles for funding.

So happy, obviously.

Snapchat, the ubiquitous photo-sharing app, is not seeing its bank account dissolve anytime soon. Gigaom reveals that it’s close to bringing in $100 million in new investment that would bring its valuation near a half a billion dollars. Cue your depression for not thinking of this.

For this current round of money, Gigaom reports that it’s receiving the money from “unnamed non-tradition investors (read: hedge-fund).” The Los Angeles-based company previously raised a measly $13.5 million in Series A funding in February when it was just valued at $70 million. Last October, Snapchat tallied 20 million snaps a day. By April, it was boasting more than 150 million.

While we’re anti-screenshots, we wouldn’t mind seeing “leaked” pictures from founders Evan Spiegel and Bobby Murphy’s bar tab.

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