Investments, News

#Fundingwire: Snapchat Raises $1.8B in Series F & ClearTax Secures $2M

Snapchat#FundingWire is your quick daily dose of notable investments made in the technology space. The firms covered in this segment include Snapchat & ClearTax

Snapchat Raises $1.8B in Series F 

Video messaging app Snapchat, according to SEC filings, has raised $1.8 billion in Series F from General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management, Fidelity and others.

The Los Angeles-based company recently started monetizing efforts and brought in $59 million in revenue in 2015. But the company is now ramping its business to match the funding amount.

Snapchat claims to have increased video views by 350% from last year, increase to over 10 billion video views per day, and that over two-thirds people who use Snapchat create content daily. Read More

ClearTax Raises $2M From FF Angel & Sequoia

ClearTax, fintech startup enabling users to file taxes and returns online, has raised $2 million from FF Angel, the angel investing arm of Peter Thiel led Founders Fund, and Sequoia Capital. ClearTax raised $1.3 million just last month in seed round from PayPal co-founder Max Levchin and Scott Banister.

“We have taken the long route, and now we are extremely excited to have some of the biggest thought leaders and investors on board as our partners. We are an instrument-agnostic platform that will allow consumers to choose their rate of return and select what to have in their tax savings basket,” said Archit Gupta, CEO of ClearTax. Read More


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