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Snapchat Receives $500 Million In Investor Financing

January 3, 2015: 12:00 AM EST
Mobile messaging technology firm Snapchat raised almost $500 million from a financing round involving 23 investors. Details of the company's SEC filing revealed Benchmark partner Mitch Lasky and Sony CEO Michael Lyton as among the funding participants. Snapchat recently appointed former Credit Suisse Internet banking head Imran Khan as its first chief strategy officer. Khan's hiring is part of the company's efforts to improve its revenue performance.
Gavin O'Malley, "Snapchat Raises $500M, Capitalizes On Growth", Media Post, January 03, 2015, © MediaPost Communications
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