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Investors Buying into Snapchat for $10 Billion USD

While many scoffed at Snapchat‘s decision to turn down Facebook‘s $3 billion USD offer last year, it has now been reported that the tech startup is raising investment funding that values the company at nearly $10 billion USD, placing the app as one of the most valued tech startups that has yet to bring in any money off the investments. That is soon to change as Snapchat is preparing to launch a service called Snapchat Discovery, allowing articles, videos and ads to work much like existing snaps do. With an estimated 26% of 18-29-year-olds using the app on a daily basis, the potential for a successful expansion for Snapchat is there; what remains to be seen is how the audience will respond.

Date: /Author: Steven Suh
Category:  Tech/Tags:  Apps, Snapchat/Views: 5976
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