Snapchat rumoured to be courting valuation in the order of $1bn
Speculation surrounding the possible valuation of multimedia sharing platform Snapchat has reached fever pitch following news that the service is on the verge of receiving a fresh $100m investment.
Sources have speculated to PCMag that this sum heralds a likely valuation for the platform at ‘in excess of half a billion dollars’ with rumour speculation appreciating this to a hefty $1bn.
The stratospheric numbers arise from some impressive Snapchat stats, namely that more people take photos there than on rival Instagram with a whopping 150m images taken each day.
This has coincided with a drive to boost revenue, specifically through recruitment of more sales representatives and the introduction of mobile advertising.
Om Malik of Gigaom said: “We have seen the challenges of monetization in a mini-backlash over on post-Yahoo acquisition Tumblr. Facebook, in its attempts to grow revenue, has polluted the experience with too many ads and its division. Instagram is still searching for possible revenue streams."