Fresh Capital

Snapchat, the So-Called Sexting App, Reportedly Raising $8 M. From Investors Who Backed Instagram

Smiles for funding.

Looks like we aren’t the only ones obsessed with Snapchat, the app that lets you share photos with a self-destruct button of 10 seconds or less. Over at GigaOm, Om Malik reports that Snapchat is rumored to be raising an $8 million round from Benchmark Capital “at a pretty generous pre-money valuation.” He says the app, which was launched by two Stanford students who met at a frat, is rumored to have a valuation “close to $50 million.” Read More