Snapchat seeks new funding at up to US$19b valuation

[BENGALURU] Snapchat is looking to raise as much as US$500 million in a new funding round that would value the mobile messaging company at up to US$19 billion, Bloomberg reported on Tuesday, citing a person with knowledge of the matter.

Executives of the company, which allows users send messages that disappear after a few seconds, are in advanced talks with fund managers, the person told Bloomberg.

Los Angeles-based Snapchat could not be reached immediately for comment.

REUTERS