$537.6M in Series F Funding
On May 29, 2015 Snapchat announced that they have received an additional $537.6 Million in Series F funding. News of the funding comes days after Chief Executive Evan Spiegel said at a technology conference that he has a plan for an initial public offering but offered no details about its timing. Mr. Spiegel also said this week that he has no desire to field any acquisition offers.
When asked at the Code Conference this week about the current climate around tech investing, the 24-year-old CEO and co-founder said he predicts a “correction” is coming and he has factored that into his plans. He notes, like many observers of the recent boom in fundraising have, that low interest rates have spurred much of the activity.
Snapchat is a photo messaging app that allows users to take photos, record videos, add text and drawings, and send them to recipients. Snapchat is a fast way to share a moment with friends.
You can find more information on Snapchat’s funding on the WSJ.