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Snapchat Triples Valuation Less Than A Year After Facebook Offer

Making Facebook's $3 billion offer look downright paltry, a new round of funding could put Snapchat's valuation as high as $10 billion.

Making Facebook's $3 billion offer look downright paltry, a new round of funding could put Snapchat's valuation as high as $10 billion. The photo sharing app, known for putting time limits on pictures sent, has reportedly received as much as $20 million from Silicon Valley venture capital firm Kleiner, Perkins, Caufield & Byers. That capital, in exchange for less than 1% stake in the company, would make Snapchat's one of the most valuable start-ups, despite having made no revenue off of its 100 million monthly users. The app, only three years old, has seen its valuation grow fivefold over the last year.

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