Snapchat Raises 1.8 Billion Dollars | Crunch Report


Snapchat Raises 1.8 Billion dollars, Reddit
creates a photo uploader, Peter Thiel is trying to cripple Gawker and more It’s Thursday May 26th and this is Crunch
Report Welcome to Crunch Report compadres. In an
SEC filing that was made today with information about Snapchat’s latest funding round it
shows that they raised 1.8 Billion dollars in their series F. That’s pretty impressive
for an app my mom has no idea how to use and my younger sister can’t stop using. This values
the company at around 20 billion dollars. TechCrunch also obtained a leaked deck that
showed some of snapchats financials. Snapchat made 59 million dollars in revenue in 2015
and has projections to make between 500 million and 1 Billion in 2017. The deck also noted
that Snapchat had 110 million daily active users as of December 2015, up from 74 million
a year before. Pretty impressive. You wanna what’s driving up that value probably sweet
snaps from these two accounts. Not trying to brag though. But seriously. Microsoft and Facebook today announced that
they are teaming up to build a subsea cable across the Atlantic ocean that will connect
Virginia Beach, Virginia, with Bilbao, Spain. The companies say this will allow them to
“meet the growing customer demand for high speed, reliable connections for cloud and
online services for Microsoft, Facebook and their customers.” Once It’s up and running
MAREA will be the highest-capacity subsea cable to cross the Atlantic and will feature
eight fiber pairs. The cable will be designed to handle 160 Tbps and will use a different
route from other existing cable systems that also connect the U.S. and Europe. The companies
expect construction to complete in October 2017. Alright, all my CrunchReport maniacs. There’s
been some speculation out there that billionaire Peter Thiel may have provided some financing
of Hulk Hogan’s lawsuit against Gawker as well as various other cases in an attempt
to cripple the site. That speculation gave way to confirmation as Peter Thiel gave an
interview to the New York Times in which Thiel confirmed that not only has he provided the
Hulkster with $10 million to battle Gawker over a sex tape it released of the former
wrestling star, but Thiel long ago decided he’d do what he could to put Gawker out
of business. He continued by saying if he didn’t fight on behalf of Gawker’s “victims,”
he feared no one would. His first step was to hire a legal team to look for cases that
he could help financially support. Asked by Sorkin what other cases he has funded, Thiel
declined to offer details, saying only that, “It’s safe to say this is not the only
one.” If you guys haven’t seen the South Park episode Scott Tenorman must die, You
should, Thiel just totally Scott Tenorman’d this situation Before yesterday you could never upload photos
directly to Reddit you had to use another image hosting site like Imgur. To make things
easier on its current users and simpler for new users – Reddit has created a photo uploader
– so you can now just upload what you want to post, directly on reddit. Reddit will accept
images up to 20 megabytes and GIFs up to 100 megabytes. Reddit is launching the image uploading
feature in beta starting with 16 communities and aiming to add 50 more by next week. If
there is a community titled “Eye Candy Deluxe” feel free to upload this still image to test
it out. Today our office was just a little happier
and perkier then usual we had a bunch of kittens brought in to play with. Treat is an on demand
vet service lunching today that has an app that lets you directly chat with vets if you
have any questions about your pets and then if you do have a problem you can call on a
vet to to make a house visit. But Kittens am I right. Thats why this whole story has
just been kitten B-Roll. Kittens so cute! That’s the report for today. I’m Tito
Hamze Crunch Report airs every weekday at 7 pm Eastern,
4 pm Pacific, on Techcrunch.com. You can also find us on iTunes, and on YouTube. See you
tomorrow!

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3 thoughts on “Snapchat Raises 1.8 Billion Dollars | Crunch Report

  1. "peter thiel trying to cripple gawker" lol you say that like it's a bad thing. Have you ever seen the south park episode bass to mouth?

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