Snapchat needed a little more cash and opened itself up for another round of funding from venture capitalists and as a result of the last round of funding has hit a $10 Billion dollar valuation. As of right now Snapchat isn't making any money so raising this money is critical as they work on ways of making money off the Snapchat brand. It seems like the valuation of $10 Billion is crazy, especially for a company that hasn't made any money. It is hard to determine value anymore with some of the crazy buyouts we've seen over the past year or two and now even Microsoft is being to the long list of companies rumored to be interested in acquiring Snapchat. TechCrunch has the story.
We also keep hearing the company is in the process of raising another round of funding. According to one source, the raise will be an over-$100 million Series D to follow the $50 million Series C led by Coatue Management last fall. The new round would value the company at $10 billion, according to our sources.