On Air Now

Current Show

Jerry Bader   9:00 AM - 11:00 AM

Call The Jerry Bader Show at 1-888-455-1360

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
64° Feels Like: 64°
Wind: SE 9 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Thunderstorms 77°

Tonight

Heavy Thunderstorms 65°

Tomorrow

Mostly Cloudy 81°

Alerts

Photo-sharing service Snapchat raises $50 million

SAN FRANCISCO (Reuters) - Snapchat, the mobile photo-sharing service beloved by teenagers and twenty-somethings, has raised another $50 million, according to a Securities and Exchange Commission filing made Wednesday.

The funding brings the total raised by the two-year-old company to more than $123 million.

The company has no revenue, but millions of users who use it to send photos that vanish from recipients' phones after a few seconds. A Pew Research Center study released in October said that 9 percent of U.S. mobile phone users use Snapchat.

The funding was first reported by TechCrunch.

Snapchat drew attention last month when reports emerged that it had turned down a $3 billion acquisition offer from Facebook. It raised $60 million earlier this year at a valuation of $800 million.

Founded by a group of Stanford students, its backers include: Benchmark, Institutional Venture Partners, and Lightspeed Venture Partners.

(Reporting by Sarah McBride; Editing by Leslie Gevirtz)

Comments