Register

I agree with the Privacy Policy

Los Angeles Times

Snapchat brings in $538 million from investors

May 28, 2015

Snapchat's co-founder and chief executive, Evan Spiegel, who turns 25 on Thursday, said this week that the company plans an IPO, though he declined to offer a timeline.

The new cash will help expand Snapchat's workforce. In February, more than 200 employees worked at Snapchat; today, more than 330 do. It's hiring people in Venice, its headquarters, as well as in New York City and Chicago. Online job postings seek computer engineers, ad sellers and recruiters. But a batch of other positions represents the social media company's multiple ambitions: for instance, “political junkies ... willing to travel to exotic locales like Iowa and New Hampshire.”

“They've seen a phenomenal growth,” said Tejas Mehta, a mobile industry research analyst at Parks Associates. “But they need to take the next steps to compete with the other players.”

From the article "Snapchat brings in $538 million from investors" by Paresh Dave.

Previously In The News

Crackdown on Piracy Hits Barrier

John Barrett, an analyst at market research firm Parks Associates in Dallas, is more skeptical. At a recent conference in Universal City, he asked a panel of college students about file sharing and...

Moving to Cut TV's Ties to the Living Room Set

According to the technology research firm Parks Associates, more than 30% of all U.S. households had high-speed Internet connection by the end of last year, and more than 15% had home networks. Mea...

High-Tech Industry Plugs Into Simplicity

The consumer electronics industry figures devices that can be set up in a home network — PCs, televisions and stereos that can talk to one another and share high-quality data, video and audio — are...

‹
1
2
3
4
5
6
7
8
9
10