Is Snapchat Really Worth $3.5 Billion?

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By Seth Fiegerman2013-10-25 19:02:30 UTC

Snapchat may soon be part of the billion-dollar company club, three times over.

AllThingsD reports that Snapchat is looking to raise a new round of funding at a valuation of up to $3.5 billion, just a few months after raising a $60 million round at an $800 million valuation.

See also: How Taco Bell Is Exploiting Snapchat Stories

Snapchat did not immediately respond to our request for comment.

If the report is accurate, Snapchat would be worth as much as tech companies like Square, Uber and Pinterest despite the fact that it has yet to introduce any form of monetization.

Snapchat launched in 2011 and lets users send messages to one another that disappear shortly after being viewed. More recently, the startup introduced a new feature called Stories, which lets users save snaps to a feed for 24 hours and could serve as a possible platform for advertising. Snapchat users shared more than 350 million photos each day, as of September.

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Image: Mashable composite, iStockphoto, jenyk, Snapchat

Topics: Business, snapchat, Startups