Snapchat Grows Investor Base, SWFs Included
Posted on 05/27/2016
Snapchat Inc. has grown its investor base to include more venture funds and sovereign wealth funds. The social media app for sending disappearing messages has added around 120 investors and US$ 1.3 billion in cash since last May. In all, Snapchat is estimated to have around 200 investors, spreading the wealth around. Snapchat is now valued at US$ 18 billion after its latest round of funding. Snapchat raked in around US$ 59 million in revenue in 2015. Snapchat expects revenue of US$ 250 million to US$ 300 million for 2016.
Some sovereign wealth funds that have exposure to Snapchat include Alaska Permanent Fund Corporation (through a fund) and Singapore’s GIC Private Limited. Other investors in Snapchat are Coatue, Rizvi Traverse, Fidelity Investments, T. Rowe Price, Spark Capital, Meritech Capital Partners, Glade Brook Capital Partners, Kleiner Perkins Caufield & Byers, New Enterprise Associates, HDS Capital, and General Atlantic.