- Opinion story written for The Daily Orange, Syracuse University’s independent student newspaper
- Story ran in print on February 23rd, 2015
- Published on the web on February 23rd, 2015
“Last week Snapchat announced it would be beginning a new round of funding aimed at raking in $500 million in a capital fundraising effort to give the company the resources to build new features and revenue-making models. The money would put its total valuation at an alleged $19 billion, according to a Bloomberg report.
That valuation puts a price tag on Snapchat that’s worth almost as much as WhatsApp when Facebook purchased it last year. It also makes it the third largest company backed by venture capital firms, behind only Uber and Chinese smartphone maker Xiaomi.
Think about that: $19 billion for a company that specializes in disappearing photos and videos. There’s good reason to call that estimate crazy but make no mistake — Snapchat has the potential to play ball with the big companies in the social media industry.“
Full article here.