MASTERCLASSING

Snapchat Lands $50m from Single Investor

Alex Spencer

SnapchatSnapchat has raised $50m (£30.5m) in funding from a single investor: hedge fund firm Coatue Management.

The money represent Shapchat's third round of investment. It received $60bn of Series B funding from various investors in June.

The messaging app company still has no monetisation strategy, but it's nevertheless attracting plenty of cash lately.

Snapchat reportedly turned down a $3bn acquisition bid from Facebook last month. But its just one of the companies rumoured to be interested in buying Snapchat, including Twitter, Google and Chinese investment company Tencent.

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