Snapchat could now be worth $20 billion
Sources have told TechCrunch that Snapchat is expanding its Fidelity-led $175 million Series F round into a Series FP round, and it reportedly comes with a valuation around $20 billion.
VC data provider VCexperts have pegged Snapchat's share price at $30.72 per share, and that the new round could propel Snapchat to a valuation "as high as $22.7 billion," according to TechCrunch.
In addition to Fidelity, Alibaba, Coatue Management, General Catalyst, IVP, Kingdom Holding Company, Lightspeed, SV Angel, Tencent, and Yahoo are all investors in Snapchat, and many of them appear to be interested in participating in this new funding round, according to the report.
Snapchat has been making moves, most recently purchasing the custom emoji creation tool Bitstrips back in March, and improving its core functionality. Coupling those with the fact that Snapchat is more popular than ever, it's no surprise why investors both new and old are trying to get a bigger piece of the action.
Below is the copy of Snapchat's updated Certificate of Incorporation VCExperts provided to TechCrunch.
VCExperts Snapchat COI 05132016 by TechCrunch