The new year has been a rather happy one for Snapchat. It was revealed by the messaging firm on New Year’s Eve that it had raised a massive $486 million in investments, rounding off an year that has been one of the biggest in terms of private funding rounds.
Dow Jones VentureSource has been cataloguing private investments in US start-ups since 1992 has revealed that the last funding round landed Snapchat into the top 10 of the biggest venture capitalist deals which have been made in the USA.
Snapchat’s funding round included Kleiner Perkins Caufield and Bayer and internet company Yahoo has turned out to be the 10th largest such deal among USA’s venture capitalist backed companies. It is an astonishing achievement for Snapchat; if you note down the fact that it is only a three year old company. What’s more, they just started making money. Truly commendable!
This deal ranks just slightly ahead of another blockbuster deal that took place in 2014, when rental site Airbnb collected around $475 million. Snapchat and Airbnb’s deals are, however dwarfed by the deal Uber struck. They collected around $1.2 billion in two separate funding rounds. Apart from these, another American company, Magic Leap also cracked the Top 10 in 2014 with a $542 million funding round.