OMG! Techcrunch reports Snapchat raises $1.8 billion

The most renowned photo sharing app, Snapchat raises a lump some amount of $1.8 billion in Series F round according to the SEC filing. General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management and Fidelity are the investors in the round. In the last five months, Snapchat secures a funding of $1.158 billion. Snapchat is all about sharing pictures and videos to friends. Evan Spiegel is the founder of Snapchat.

In 2015, this Los-Angeles-based startup made $59 million. From past few months, Snapchat is raising money on rolling basis. Series F round seems to be a wrapping up several pieces of funding.  In the first part of the round, $650 million was raised. The startup is estimated to make $250-$350 million this year. For 2017, its target is reaching $1 billion. Snapchat recorded a daily user base of 110 million till 2015.

Snapchat aims to upgrade the entire chatting experience with an unusual range of features like face swapping, attaching an emoji to a moving object in video and fun tools.

Takeaways:

• General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management and Fidelity are the investors in the round.
• Snapchat aims to upgrade the entire chatting experience with an unusual range of features like face swapping, attaching an emoji to a moving object in video and fun tools.