Snapchat has authorized the sale of 1.6 million shares as "Series C Preferred Stock" at around $34 a piece, according to a recent filing unearthed by VC Experts and shared with Business Insider.
The Series C allocation suggests that the company is nearing the close of its Series C round of funding and is raising roughly $54.5 million.
This past June, Snapchat raised $60 million at a pre-money valuation of $800 million in its Series B round. The newly surfaced filing now suggests a valuation of $2 billion, according to VC Experts.
That Snapchat is raising … Read more