Eye Popping Valuation for Snapchat

Snapchat, previously the little txting (sxting) app for teenagers, has just raised another $573M as it heads towards an inevitable initial public offering.

Wow!

That funding creates a valuation for the private company at $16B, yes that is a 'B' for Billion, that is in the stratosphere for app companies.  This is a really big deal folks and will change the way brands interact with its customers.

Here is the story:

http://www.mediapost.com/publications/article/250924/snapchat-raises-573m-eyes-ipo.html?edition=83247

Here is a snippet from that piece:

Having officially shed its fad status, Snapchat is redefining the way young consumers communicate, posting some serious usership figures.

Snapchat has 100 million users who watch an astonishing 2 billion videos per day, according to internal figures. That’s half the volume of videos viewed on Facebook, even though the latter is far larger in size.

In addition, Snapchat now claims that 60% of smartphone users aged 13 to 34 are active on the service.

Happy Reading,

J.W. Gant