Google Capital, the late-stage growth venture capital fund supported by Alphabet Inc., has silently added the Snapchat parent company, Snap Inc. to its group of assets.
Snapchat Inc.
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Snapchat business is new, still evolving and advertiser interest is also experimental. But the app service provider has recorded revenue of $100 million during October last year. The company has set goal for up to $350 million revenue during the current year.
Snapchat Inc. reported that its video views hit 7 billion per day on Monday. The mobile based social media company with just 100 million active users are expected to rival Facebook's daily video views anytime soon.
Yahoo Inc has bought Blink, a mobile messaging startup whose app lets users send messages that will self-destruct at a time set by the sender.
Messaging startup Snapchat has settled charges with U.S. regulators accusing it of deceiving consumers by promising that photos sent on its service disappeared forever after a certain period of time.
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