Snapchat 'Valued at $22B' in New Financing Spherical

Snapchat is elevating about $200 million in a financing spherical that would put the social media platform’s valuation as excessive as $22.7 billion, TechCrunch reported, citing sources with information of the deal.

The recent fund-elevating follows a $one hundred seventy five million Collection F spherical in March that was led by Constancy and valued Snapchat at $sixteen billion, according to its 2015 valuation, TechCrunch stated.

Snapchat declined to remark when contacted by CNBC concerning the report.

Snapchat has about one hundred million day by day customers, with round eight billion video views a day.

Fashionable with millennials, Snapchat permits customers to ship a "snap" – an image or video – to contacts. As quickly as somebody reads the snap, it disappears. However customers may also submit a "story" – a public assortment of snaps that disappear after 24 hours.

Learn Extra From CNBC: The whole lot You Needed to Know About Snapchat However Are Too Afraid (or Previous) to Ask