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Snapchat confirms USD 1.8 bln funding round
2016-05-26 15:50:00| Telecompaper Headlines
(Telecompaper) Snapchat has confirmed a Series F financing round of USD 1.8 billion, in a filing with the SEC. Of the total, USD 1.158 billion was raised in the past five months, reliable sources tell TechCrunch. Investors in the round reportedly included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management and Fidelity, among others. The website also obtained details on Snapchat's revenue performance, showing its turnover was just USD 59 million last year. However, sales accelerated in the second half of the year after it started more monetisation efforts, growing from USD 4 million in Q1 to USD 33 million in Q4.
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Category:Telecommunications