Here's why investors are throwing money at Snapchat
Snapchat raised an additional $1.81 billion in funding, according to a regulatory filing on Thursday.
That means the messaging app has raised over $2.6 billion since its founding in 2011. That's a lot of money, given Snapchat only generated $59 million in revenue last year, according to TechCrunch.
One reason why investors are throwing money at Snapchat may be due to its robust daily active user growth. This chart by Statista, based on numbers reported by TechCrunch, shows Snapchat hit 110 million daily active users by December 2015. That's a whopping 50%-plus year-over-year growth every quarter for at least the past two years.
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