Snapchat seeks new funding at up to $19 billion valuation: Bloomberg

Reuters News
|
Posted: Feb 17, 2015 5:16 PM

(Reuters) - Snapchat is looking to raise as much as $500 million in a new funding round that would value the mobile messaging company at up to $19 billion, Bloomberg reported on Tuesday, citing a person with knowledge of the matter.

Executives of the company, which allows users send messages that disappear after a few seconds, are in advanced talks with fund managers, the person told Bloomberg. (http://bloom.bg/1AiWtif)

Los Angeles-based Snapchat could not be reached immediately for comment.

(Reporting by Abhirup Roy in Bengaluru; Editing by Sriraj Kalluvila)