Technology

Snapchat Could Become Third-Most Valuable Tech Start-Up

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LOS ANGELES (USA Today) — Snapchat, the 3-year-old messaging app with disappearing photos, could become the world’s third-most valuable tech start-up.

Snapchat is said to be in talks to raise as much as $500 million, which would value the company at $16 billion to $19 billion, according to a Bloomberg report. Snapchat declined comment.

That would put the company right under China’s Xiaomi ($46 billion) and ride-hailing service Uber ($41 billion).

Snapchat was born in a dorm room at Stanford University as a new way for young folks to communicate, with messages that wouldn’t become part of their online record. Photos and videos disappear within 10 seconds.

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