WHAT a difference a year makes.
Less than 12 months after investors valued Snapchat, the red-hot messaging app, at about US$10 billion, the startup is again in the market for money - and poised to nearly double that valuation.
A range of other popular startups are also poised to propel their net worths to similar multibillion-dollar heights, including virtual scrapbooking service Pinterest and ride-hailing app Lyft. Uber, Lyft's top competitor, has raised more than US$3 billion in the past year and has an eye-popping valuation of US$40 billion.
Giant sums of money and sky-high valuations are nothing new in the technology industry. But the latest burst of activity has put on clear display the frenzied...
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