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Snapchat Raises $175M in Funding, But Company Valuation Is Flat

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News broke last last week that video and photo social platform Snapchat has raised an additional $175 million in funding, this time from Fidelity Investments. The company didn't issue a press statement or say how it would use the new funds.

The hiccup in this story is that Snapchat's valuation—$16 billion—hasn't changed from the year before. That makes this a "flat round," and suggests that investors believe the company was overvalued before and are now adjusting expectations. As Reuters points out, Snapchat is the sixth most highly valued venture-backed company.

This investment is an extension of Snapchat's Series F round, which began in 2015. Previous investors include Alibaba Group, Benchmark, General Catalyst Partners, Glade Brook Capital Partners, HDS Capital, Institutional Venture Partners, Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, York Capital Management, and Yahoo, notes Variety. The company has raised over $1.3 billion in funding.

Last week, Snapchat broke news that it will continue its partnership with Major League Baseball this season. March 11 will be Snapchat Day in the league's spring training ballparks. Players will use "SnapBats," which are selfie-sticks with a bat design, during the games to create unique experiences for fans. The SnapBat was first introduced during the 2015 Home Run Derby.

The SnapBat

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