Snapchat has been one of the fastest rising tech start ups over the past year and now the company could very well be one of the biggest tech companies someday. A venture capital firm out of the Silicon Valley called Kleiner Perkins Caufield & Byers has recently signed on to invest and additional $20 million into Snapchat. Here are five things you didn’t know about this now valued multi-billion dollar company.
5. Snapchat now has 100 million users
Another article came out yesterday about how Snapchat has actually reached more than 100 million monthly users. The company is keeping their metrics secret, but they received a ComScore predicting only 27 million users back in June.
4. They turned down Facebook
This isn’t that big of a surprise for those who keep up with tech news, but Facebook tried to purchase Snapchat for $3 billion back in December of last year. While many were amazed that the company turned that deal down, it turns out they were smart in doing so because Snapchat is now valued at $10 billion.
3. Snapchat sold stock for $0.001 per share
Earlier in August, Snapchat quietly released 17.4 million stock shares into the market for an absurd price of only $0.001. While the shares are only worth 3-5% of the company, it was interesting and unexpected for them to do this.
2. They have raised a lot of funding
Snapchat has had to build a massive amount of funding and investors, and with the $20 million addition from Kleiner Perkins Caufield & Byers, the company has currently raised a total of $163 million. This is from seven different investors, one being Coatue Management.
1. The founders are now billionaires
With Snapchat now being valued at $10 billion, that means the owners, Bobby Murphy and Evan Spiegel, are now worth billions as well. The two are still well under 30 years old and are just getting started in the tech industry.
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