The funding brings the total raised by the two-year-old company to more than USD 123 million.

The company has no revenue, but millions of users who use it to send photos that vanish from recipients' phones after a few seconds. A Pew Research Center study released in October said that 9 percent of US mobile phone users use Snapchat.

The funding was first reported by TechCrunch.

Snapchat drew attention last month when reports emerged that it had turned down a USD 3 billion acquisition offer from Facebook. It raised USD 60 million earlier in 2013 at a valuation of USD 800 million.

Founded by a group of Stanford students, its backers include: Benchmark, Institiutional Venture Partners, and Lightspeed Venture Partners.


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