Snapchat raises $50 million in Series C funding round

Snapchat, the Venice start-up that recently turned down a $3-billion acquisition offer from Facebook, has raised $50 million in a Series C round.

The funding was provided by investment firm Coatue Management, which has offices in New York and Menlo Park, Calif.

A Snapchat spokeswoman confirmed the funding by Coatue on Wednesday but didn’t provide additional details.

PHOTOS: Top 10 most talked-about people, topics on Facebook in 2013

Snapchat co-founder and Chief Executive Evan Spiegel signed off on the funding in a filing with the Securities and Exchange Commission on Wednesday. The filing was light on details, with Snapchat declining to list its revenue range or name its investor.

With the latest round, the popular photo-messaging app has now raised more than $120 million. The rapidly growing start-up enables users to pre-set expiration times on their photos so that the images disappear after a few seconds.

Snapchat has been busy recently. Last week it announced that it had hired Emily White away from Instagram to be its new chief operating officer. That came on the heels of its rejection of Facebook’s hefty buyout offer. And the start-up also outgrew its Venice boardwalk headquarters, relocating to 63 Market St.

ALSO:

Is Snapchat poised to be L.A.’s tech start-up star?

Snapchat reportedly declined $3-billion offer from Facebook

Snapchat hires Emily White away from Instagram to be its COO