Messaging app Snapchat Inc has raised $1.eighty one billion (roughly Rs. 12,157 crores) in an equity offering, indicating strong investor interest inside the enterprise despite issues that it’s far struggling to attract advertisers.
Snapchat did no longer divulge its valuation within the modern day spherical of investment in its filing on Thursday.
however, generation website TechCrunch said on Monday, citing assets, that the organization may be valued at approximately $20 billion (more or less Rs. 1,34,351 crores).
Snapchat, which makes a loose mobile app that permits customers to ship videos, photos and messages that vanish in seconds, has confronted concerns that the organization’s envisioned valuation isn’t justified due to its uneven revenue movement.
traders in this spherical covered general Atlantic, Sequoia Capital, T. Rowe fee, Lone Pine and fidelity, among others, TechCrunch mentioned on Thursday, mentioning resources.
Snapchat became now not straight away available for comment.
