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Snapchat Raises $50 Million In New Funding

Social Media

Snapchat Raises $50 Million In New Funding

Snapchat

Snapchat reportedly turned down a $3 billion acquisition from Facebook last month, and today confirmed a new $50 million investment.

CEO Evan Spiegel confirmed the news, and says the investment came from a single investor who he would not disclose.

According to TechCrunch, Snapchat was reportedly planning on raising $200 million in new funding from Tencent, China’s largest Internet service portal.

However, according to inside sources and recent court documents, it appears Tencent has already invested in the mobile app during an earlier round of funding.

To date, Snapchat has raised around $123 million, and last week it hired Emily White, former Director of Operations at Instagram, as its new COO.

Kokou Adzo

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Kokou Adzo is a seasoned professional with a strong background in growth strategies and editorial responsibilities. Kokou has been instrumental in driving companies' expansion and fortifying their market presence. His academic credentials underscore his expertise; having studied Communication at the Università degli Studi di Siena (Italy), he later honed his skills in growth hacking at the Growth Tribe Academy (Amsterdam).

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