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

Nielsen to track video game use

"It's not the old media world anymore," said Michael Cai, analyst with Parks Associates in Dallas, who estimates that spending on advertising within games will grow to more than $800 million in 201...

Make way for the iPad

Until recently, the price tag for home automation systems ranged from $30,000 to $50,000 and kept the industry stagnant, says Kurt Scherf, a market researcher at Dallas-based Parks Associates, whic...

Software Provides DVDs on Demand

With the software, retailers could download specific films requested by customers, who can place their orders online. The DVDs would then be delivered by mail or picked up at in-store kiosks simila...

IPO May Help Shutterfly Compete

Online photo companies have a high level of customer loyalty, said Harry Wang, a research analyst at Parks Associates. After a customer accumulates a lot of pictures on an online photography site,...

‹
1
2
3
4
5
6
7
8
9
10
›