NDM Post 27

Snapchat reveals $485m of funding at a reported $10bn valuation

The article reveals information about the funding for the institution, the latest round of funding is $485.6 Million possibly valuing the company at more than $10bn, just over a year after the $3bn proposition by Facebook was made. It reveals possible investors taking part in the round. The latest round totals the round to just under $648 Million. According to reports from Bloomberg and TechCrunch it was suggested that Yahoo and venture capital firm Kleiner Perkins Caufiels and Byers were involved in the round. Snapchat also launched the Advertisment - a 20 second trailer for the horror film Ouija, paid for by Universal Studios.The company has ambitions to become more that jus a messaging app for its predominantly young users by talking to other companies including BuzzFeed, Spotify, Vice and MailOnline to add music news and videos to a new section of its app called "Discover". In December Hollywood studio Sony Pictures had emails leaked which hinted at the companies ambition to turn the app in to a fully-fledged digital music service

- Messaging app Snapchat has raised its latest round of funding, $485.6m, value the US-based company at more than $10bn.

- Snapchat, which is thought to now have 200 million active users sending photos and videos to one another.

- Snapchat’s total funding so far to just under $648m.

It is still a new and growing company but looking at the statistics it's evident that it's doing very well, if i was able i would venture in to the company, because it appears to be a sure thing, However the ideas to make the app a music app or add music to it may make it seem that they are doing to much to become a social networking site right now its unique and new and it excites us however adding these features may make seem boring and like every other social site

http://www.theguardian.com/technology/2015/jan/01/snapchat-funding-valuation-investors-messaging-app