(Reuters) – Messaging app Snapchat Inc has raised $1.81 billion in an equity offering, indicating strong investor interest in the company despite concerns that it is struggling to attract advertisers.
Snapchat did not disclose its valuation in the latest round of funding in its SEC filing on Thursday.
However, technology website TechCrunch reported on Monday, citing sources, that the company could be valued at about $20 billion.
On Thursday, TechCrunch published a Snapchat presentation deck it says was leaked to the publication by a source who was approached to invest.
The deck shows Snapchat’s revenues for 2015 were $59 million. That falls a long way below the $100 million for 2015 the Financial Times reported it was projecting back in October.
However, Snapchat projects full-year revenue of between $250 million and $350 million in 2016, according to the leaked document. For 2017, it expects revenue to rise to $500 million to $1 billion.
The company has recently been buoyed by the popularity of its premium Sponsored Lenses advertising format, which cost between $100,000 and $750,000. Some 30 million snaps every day are now decorated with Lenses.
The leaked deck also reveals Snapchat had 110 million daily active users in December 2015.
Investors in this round included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine and Fidelity, among others, TechCrunch reported on Thursday, citing sources.
Snapchat declined to comment.
(Reporting by Lara O’Reilly, Business Insider, Anya George Tharakan, Reuters in Bengaluru.)