Snapchat Inc. has added 120 investors and raised $1.3 billion in funding since last May. Combined with data from previous filings, Snapchat appears to have about 200 distinct investors and has raised more than $2 billion from them.
Snapchat Chief Executive Evan Spiegel explores all options, in part because there’s intense demand to be a shareholder in Snapchat, which was valued at more than $15 billion in 2015. Techcrunch reported that some of the more recent investments valued Snapchat at over $17 billion.
Most recent Snapchat investors are paying high prices for shares, at almost $30 per share, before Spiegel takes Snapchat public. Snapchat still has a way to go before an initial public offering, given heightened scrutiny from Wall Street over cash flow at tech companies such as Twitter Inc. and LinkedIn Corp. Revenue at Snapchat should reach the low hundreds of millions of dollars this year, mostly from ads that run alongside videos on the apps.
The raise adds to the $538 million Snapchat raised last spring and closes a $1.8-billion Series F round of funding, according to Thursday’s filing.