Snapchat Seeks $19B Valuation With New Round of Funding

Snapchat may be a hit with the kids, but its seeking a very grown up goal. Its seeking some $500 million in funding, so it could be valued as high as $19 billion. A little background, in case you’ve missed the Snapchat boat. It first gained popularity on college campuses and garnered momentum, because it allowed kids to share a spontaneous moment, quickly and temporarily. After 10 seconds, the photo or text would disappear. This versus the digital permanence that comes with a photo posted on Facebook or Instagram. It look less effort. Less staging. Facebook made a play to buy Snapchat for about 3 billion in late 2013. Unsuccessful, it went on to buy rival Whatsapp last year, valuing the instant messaging tool at 22 billion. Snapchat is still privately held. If it is successful in raising this round of financing, it would solidify its position as one of the privately held companies valued in the billions. Others who share the distinction: Uber, valued at over 40 billion.