According to an SEC filing made on Thursday, the ephemeral video and photo messaging app has raised $1.8 billion dollars in its latest round of investments.
About the investments
The Los Angeles-based company, founded in 2011, had raised £200 million in its previous series of funding, which was led by investor Alibaba.
The recent investment proves the increasing popularity of the company, with $1.158 billion of the latest $1.8 billion invested in the latest round since since January of this year, according to TechCrunch.
The app giant has a rumoured targeted post-money valuation of around $18 billion, although this is the subject of debate, as earlier valuations suggested $20 million.
Whatever the real figure is, it’s certainly a lot larger than the $3 billion that Facebook offered for the acquisition of the app in 2013.
The growth of the company has also been marked on Snapchat’s website, where they report they’ve had a 350% on daily video views in the last eight months, with 10 billion daily views.
What’s coming up for Snapchat
The growth of the company is looking set continue based on the popularity of their app updates.
Chat 2.0 was released in March, and contained plenty of new features for users to feast on. Snapchatters can also now make audio and video calls through the app and choose from over 2000 stickers to send in messages.
These recent changes have gone down particularly well, and Snapchat’s future figures reflect this recent growth, with estimated revenues to be between $250 million and £350 million for 2016, and between $500 million and $1 billion for 2017.
The app has also struck a deal and will be providing updates of the upcoming Olympics in Rio de Janeiro.
What this means for your social strategy
If you’re looking to get the most from Snapchat, snap it up in your social strategy.
This growing platform is only set to get bigger over the next few years, and these forecasts suggest it will become a valuable tool for your business.
With the focus fully set on video marketing, Snapchat is the go-to tool for interacting with your audience. Make full use of the platform by setting up your business account and uploading video stories regularly.
Given that over two-thirds of people who use Snapchat create content on every day, it’s also a good idea to interact with them. Watch stories, snap people back and use the various filters Snapchat provides to get your business up and running on the platform.
Have you got a Snapchat strategy in place for your business? Tell us about your thoughts on the recent investments in the comment section below!