Snapchat valued at $10 bln in new round from Kleiner Perkins — reports

Evan Spiegel of Snapchat

Snapchat, a photo-sharing service for smartphones, raised a new round from Kleiner Perkins Caufield & Byers that values the company at $10 billion, according to two media reports.

The new funding would bring the total amount of capital raised by Snapchat to more than $140 million.

The Wall Street Journal was the first to report that Snapchat had raised a new round from Kleiner Perkins that valued the company at $10 billion. Re/code confirmed the report.

Snapchat reportedly turned down a $3 billion acquisition offer from Facebook last year.

Photo: Snapchat co-founder Evan Spiegel arrives at the Time 100 gala celebrating the magazine’s naming of the 100 most influential people in the world for the past year, in New York April 29, 2014. REUTERS/Lucas Jackson

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