Snapchat Celebrates the New Year Early with $485.6M in New Funding

Originally posted on PandoDaily:

Snapchat has raised $485.6 million in new funding, according to a new SEC filing published today under the cover of New Years Eve. The Series D round, which was first reported by Circa, included a total of 23 (undisclosed) investors, and follows rumors in recent months that Alibaba, Yahoo, and Kleiner Perkins would participate and that the company would receive a valuation of $10 billion. Whether the company ultimately reached that lofty value remains unconfirmed.

It seems like ages ago that Snapchat reportedly turned down $3 billion-plus acquisition offers from both Facebook and Google. In the year or so since these unconsummated deals were first revealed, Snapchat has rolled out its wildly popular Our Stories live-event experience, introduced its SnapCash payments product in partnership with Square, and begun introducing brand advertisements to its platform.

On the other side of the coin, Snapchat has faced a number of...

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