March 8, 2016 Comments Off on Snapchat raises $175 Million
Snapchat has raised $175 million in a Series F funding round from Fidelity Investments, valuing the company at the same $16 billion valuation it received last year. According to Reuters, the flat round indicates investors are becoming cautious of Snapchat’s sustainability. Last year, Fidelity devalued its stake in Snapchat by 25%, but it was marked up again last fall by about 15%. It is still unclear how profitable the company is and the mark down suggests that Snapchat could be overvalued.
You can read about the funding here.
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