In what seems like a never-ending cycle, Snapchat is looking to raise as much as $500 million in a new funding round at a valuation of up to $19 billion.
These reports come from a Bloomberg report that cites a source familiar with the matter. The company had raised nearly $500 million in a Series D round of funding at the end of last year. It had also closed an investment from Yahoo near the end of last year and was reportedly seeking funding last summer.
This, of course, all comes after Snapchat reportedly turned down a $3 billion acquisition offer from Facebook way back in 2013. The app continues to evolve with new features, including its local “Our Stories” feature that’s undergoing testing.
Unfortunately, the app continues to be absent from Windows Phone for unknown reasons despite the fact that nearly all of its competitors have already launched their apps on the platform. To add salt to the wound for WP users, the company also blacklisted 3rd party apps in November, preventing developers from putting their own iterations of the app on the platform.