Snapchat valued at £10billion

It is official…Evan Spiegel’s prediction of his company growth were right. From $2 billion less than a year ago, Snapchat’s valuation is on the rise again with the recent announcement of the company new fundraising that would bring the company close to $10 billion valuation. The start-up that in a way launched the ephemeral trend changed the way we relate to instant-messaging app maybe forever.

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Despite the CEO secrecy around the metrics, it seems that more than 100 million people are now using Snapchat every month with roughly 2/3 of those users logging to the service daily.

Since the very public Facebook attempt and fail of a $3 billion acquisition, several investors have also tried to make an investment within the company. All those talks seem to have fallen through until Snapchat decided to accept the investment coming from Kleiner Perkins, a Silicon Valley venture capital firm that has previously invested in successful tech companies such as Amazon and WebMD.

Despite the constant strong growth, the company maintains its image of being not about money but about its community. The spokesperson Mary Ritti said: the valuation of our business and our capital requirements are the least exciting aspects of supporting the Snapchat community. We have no further comment at this time.” an_31215166

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