Snapchat Raises $1.8B In Funding Round, Predicts $1 Billion In Revenue by 2017

Snapchat Raised $1.8B In Funding Round, Revenues Predicted To Reach $1 Billion By 2017
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Snapchat is one of the fastest-growing social media platforms, and it seems that its success is only going to continue. In its latest funding round, the company raised over $1.8 billion, with investors including General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management, and Fidelity, among others. The leaked documents also revealed some interesting numbers about the company.

Snapchat’s revenue rose from $4 million in Q1 2015 to $5 million in Q2. Then, the company experienced a massive increase to $17 million in Q3, and again another huge growth in revenue to $33 million in Q4. It is expected that revenues will be between $250 million and $350 million by the end of 2016 and between $500 million and as much as $1 billion in 2017.

The app has become one of the most innovative and interactive social media platforms through heavy investment in its features that are captivating users’ attention. Snapchat has previously announced that the growth of video views surpassed 350% last year to more than 10 billion daily video views.

The company will continue to raise funding to grow and expand its range of features for its users. With the addition of features like ‘face swap,’ which have taken the social media scape by storm, the service is quickly becoming the go-to app to share stories and posts with friends and family. The company turned down a $3 billion purchase offer from Facebook’s Mark Zuckerberg back in 2013, signaling that Snapchat was determined to become an independent business and a leader in the social media market.

Snapchat’s success can be attributed to its unique approach to communication. Unlike other social media platforms, Snapchat offers a more intimate experience for users. Content shared on Snapchat disappears after a set amount of time, creating a sense of urgency and exclusivity. This feature has made the app popular among millennials, who are known for their love of instant gratification and authentic experiences.

Snapchat’s success has not gone unnoticed by its competitors. Facebook has been trying to emulate Snapchat’s features with the launch of Instagram Stories, which allows users to share photos and videos that disappear after 24 hours. However, Snapchat’s loyal user base remains strong, and the app continues to grow at an unprecedented rate.

What’s next for Snapchat? The company has already introduced several new features this year, including group chat, voice and video calls, and the ability to use Bitmojis in the app. It is expected that Snapchat will continue to introduce new features and expand its user base.

Snapchat’s success has also created new opportunities for businesses. Companies like Taco Bell, McDonald’s, and Audi have already used the app to reach younger audiences and promote their products. As Snapchat continues to grow, it is likely that more businesses will explore the platform’s potential for marketing and advertising.

In conclusion, Snapchat’s latest funding round is a clear indication of the app’s success, which is driven by its unique approach to communication and heavy investment in innovative features. The company’s commitment to remaining independent has also made it an attractive option for investors who believe in Snapchat’s potential for growth and expansion. With Snapchat’s continued success, it is clear that the app is here to stay and will continue to shake up the social media landscape for years to come.

5 Responses

  1. Deidre Reigel, Singer/Writer

    Technological expansion is inevitable. I vote for expansion that supports artists and serves their fans well!

  2. Deidre Reigel, Singer/Writer

    Technological expansion is inevitable. May it serve us al well.

  3. Deidre Reigel, Singer/Writer

    Let’s keep the good developments coming!

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