Snapchat, backed by Tencent, Alibaba and Yahoo, boosted its series F round to more than $710m and its overall funding to more than $1.3bn.
Snapchat, the US-based instant messaging app developer backed by corporates including e-commerce company Alibaba, has raised $175m from financial services group Fidelity Investments, the Wall Street Journal reported yesterday.
The investment will be added on to the $538m in series F funding Snapchat had raised from Alibaba, Fidelity, York Capital and Glade Brook Capital as of June 2015, sources told the WSJ and Reuters. The round values Snapchat at $16bn.
Founded in 2011, Snapchat’s app enables users to send…
