Snapchat has raised another $175 million in investment, the funds have apparently come from Fidelity Investments.
The latest funding for Snapchat puts the company’s value at around $16 billion, this is the same value it had last year when its previous funding was raised.
Fidelity bought shares at $30.72 in February after paying that price last March, the person said. In the fourth quarter, a separate valuation committee at the mutual fund marked down the price of the shares to $25.75.
According to the Wall Street Journal the reason that the company’s valuation has not increased since the previous funding last year is because investors are growing more cautious.
Source WSJFiled Under: Top News