Snapchat Raises $485.6 Million to Close Out Big Fundraising Year
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Snapchat Inc., among a pack of elite technology startups that has attained a valuation of $10 billion or more, capped the year with a filing that disclosed it raised $485.6 million.
The Los Angeles-based company, which makes a mobile application for sending annotated photos that disappear within seconds, said in the filing that it raised the money from 23 investors. Snapchat, led by Chief Executive Officer Evan Spiegel, didn’t disclose the investor names or the company’s valuation.