Snapchat is reportedly raising $650 million at a $16 billion valuation

Evan spiegel snapchatSuccessStories.comEvan Spiegel, CEO of Snapchat

Snapchat is reportedly raising $US650 million in equity, according to CNBC. This would value the company at $US16 billion.

The company previously raised a $US200 million Series E round in March from Alibaba, valuing the company at $US15 billion. To date, Snapchat has raised $US848 million in venture capital funding.

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