|Snapchat disclosed selling 83% of its $650 million non-brokered equity offering to thirty-five investors. The sale started a few months ago according to the document filed at the SEC. Based on the offering’s structure, the company has until February 2016 to raise an extra $112.36 million. The company closed four previous unregistered private placements which raised an estimated $615.21 million.|
|Snapchat markets and develops a photo messaging application that allows users to communicate by taking photos or recording videos, add text and drawings, and send them. Investors include Lightspeed Venture Partners, Benchmark Capital, Coatue Management, Institutional Venture Partners and General Catalyst Partners.|
|The company is headquartered in Venice CA. Snapchat elected to keep its revenues undisclosed.
The executive team includes Chris Handman, Evan Spiegel, Imran Khan and Robert Murphy.
The board of directors includes Michael Lynton and Mitch Lasky.
The company has raised an estimated total of $1.15 billion via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $650 million
Amount placed: $537.64 million
SEC filing: Source
First sale: 02-17-2015
Data as of: 05-28-2015