Snapchat is challenging Facebook and Twitter

Snapchat

Snapchat, the photo-messaging app with more than 100 million daily active users, has overcome a slowdown in technology industry funding to raise $1.8 billion in a new round… Snapchat would not say whether its latest funding was raised at a higher valuation than the last round in May 2015, which valued the company at $15 billion… New investors include Sequoia Capital, General Atlantic and T Rowe Price, with participation from existing investors in the round. The messaging app is challenging existing social media rivals such as Facebook and Twitter. It lures younger users in particular with its fun and casual photo chats, filled with emoji, drawings and filters. The app has expanded beyond its initial 10-second snaps to include 24-hour stories…

 

Hannah Kuchler

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