This latest round of investing means that Snapchat has surpassed the $600 million mark. That being said though, industry insiders and analysts believe that the company has a lot further to go. Tejas Mehta of Parks Associates, one of those research firms, points out, “They’ve seen a phenomenal growth, but they need to take the next steps to compete with the other players.” This isn’t a scattered opinion, either. By and large, this is the consensus amongst most people who use the app.

From the article "Snapchat worth $16bn after fresh funding of $538mn from investors pocket" by Charles Miller.