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Snapchat Rakes in Another $50 Million in Funding

Snapchat, the app that lets users share photos and videos that then disappear, has raised an additional $50 million in funding, according to a Securities and Exchange Commission document filed Wednesday.
The document does not specify the identities of the new investors, and Snapchat did not immediately respond to Mashable's request for comment. The news was first reported by Fortune.
See also: 10 Hot Social Networks to Watch
The $50 million Series C round joins the $80 million round — $20 million of which was given to its cofounders — that Snapchat raised in June at a reported $800 million valuation. Wednesday's raise is much smaller than the $200 million funding the company was reportedly looking for.
The news also comes just a few days after Snapchat filed a restraining order against a former fraternity brother of CEO Evan Spiegel's, who claims he is also a cofounder of the popular app.
Between June and Wednesday's Series C round, Snapchat was reportedly approached multiple times by Facebook, which tried to acquire the Venice, Calif.-based company for as much as $3 billion. Some reports claim Google offered the startup as much as $4 billion.
Mashable will update this story as more information becomes clear.
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Image: Kevork Djansezian/Getty Images

সোর্স: http://mashable.com/

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