Snapchat Inc, the messaging app, raised $1.81 billion in an equity offering, which is indicative of strong investor interest in that company in spite of concerns that Snapchat is struggling for attracting advertisers.
However, the valuation wasn’t disclosed by Snapchat in the latest funding round in the filing on Thursday. However, it was reported on Monday that the valuation of the company could be around $20.
Snapchat is the maker of that free mobile app which allows users to send messages, photos and videos which vanish in seconds. Several concerns have been estimated because the estimated valuation of the company isn’t justified owing to the uneven revenue stream.
The investors from this round include Lone Pine and Fidelity, T.Rowe Price, Sequoia Capital and General Atlantic. However, Snapchat wasn’t available for comments.