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title: Snapchat Receives $10 Billion Valuation | TIME
description: Venture Capital Firm Kleiner Perkins has agreed to invest $20 million for less than 1% of company — which would place its overall value at $10 billion.
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# Snapchat Receives $10 Billion Valuation

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<!-- video src="https://cdn.jwplayer.com/manifests/931Yvh3e.m3u8" -->
## Video: Snapchat Receives $10 Billion Valuation

[Watch (HLS stream): Snapchat Receives $10 Billion Valuation](https://cdn.jwplayer.com/manifests/931Yvh3e.m3u8) (1:10)

![Snapchat Receives $10 Billion Valuation](https://cdn.jwplayer.com/v2/media/931Yvh3e/poster.jpg?width=720)

_Published 2014-08-27. Venture Capital Firm Kleiner Perkins has agreed to invest $20 million for less than 1% of company — which would place its overall value at $10 billion._


---

Jul 27, 2023 5:10 PM UTC

---

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---


## Transcript

Without steady revenue or a precise business plan Snapchat has reportedly managed a ten billion dollar valuation. Wall Street Journal reports Silicon valley venture capital firm Kleiner Perkins has agreed to invest 20 million dollars for less than 1 % of the company which would place its overall value at 10 billion. Snap Chat began as a simple mobile messaging app with a unique concept After a message is received, it disappears. Conversation, the way it should be. [ MUSIC ] But since then the app has expanded significantly. Tons of new features. But more importantly, it's extremely popular. This company, is all the buzz of Silicon Valley because the adoption rate has been through the roof.

All Right. Well, we're counting According to ComScore, Snapchat is in front of Twitter as the third most popular social media app among the elusive 18 to 34 year old demographic. Trailing only Instragram and Facebook. Last November, Snapchat received a three billion dollar buyout offer from Facebook, which it turned down. And while many question the decision at the time, it seems the company's patience has paid off. Snapchat reportedly has more than one hundred million monthly users.

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