Len Blavatnik

Snapchat expands investor base as it grabs $1.3 billion in funding

Snapchat expands investor base as it grabs $1.3 billion in funding

Snapchat Inc. has broadly expanded its shareholder base over the last year, going far beyond the few venture capitalists who bankrolled the Venice firm when it was merely an app for sharing self-destructing photos.  

Now operating a complex social media app that teenagers can't seem to look away from, Snapchat added close to 120 investors and $1.3 billion in cash to its fold since last May. The figures come from a regulatory filing early Thursday.

Combined with data from previous filings, Snapchat appears to have about 200 distinct investors and has raised more than $2 billion from them. 

Many start-up...

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