Fidelity Invests $175 Million in Snapchat in New Round of Financing
In its latest round of funding, Silicon Valley’s “unicorn”, Snapchat, raised $175 million USD from fund manager, Fidelity Investments. The new cash injection however, did nothing for the Snapchat’s valuation which remained at $16 billion USD. This financing brings the total amount raised by Snapchat to $1.4 billion USD.
Individuals familiar with the deal stated that the shares Fidelity paid for were technically bought last year. Hence, the reason there may not have been any increase i