Snapchat Raises $175 Million From Fidelity at Flat $16 Billion Valuation

Snapchat has raised $175 million in new venture funding from Fidelity at the same $16 billion valuation it raised at back in May, according to a source familiar with the deal.

That means Snapchat has now raised around $1.4 billion in total. The Wall Street Journal first reported the new funding.

A flat valuation isn’t usually a great sign, but the raise comes at a time when lots of tech companies — including Jawbone and Foursquare — are raising down rounds, or taking money at a lower valuation than their last fundraising.

In that vein, this investment doesn’t look bad.

A Snapchat spokesperson did not immediately respond to our request for comment.

This article originally appeared on Recode.net.

Explanatory journalism is a public good

At Vox, we believe that everyone deserves access to information that helps them understand and shape the world they live in. That's why we keep our work free. Support our mission and help keep Vox free for all by making a financial contribution to Vox today.

One-Time Monthly Annual

$95/year

$120/year

$250/year

$350/year

Other

$

Yes, I'll give $120/year

Yes, I'll give $120/year

We accept credit card, Apple Pay, and Google Pay. You can also contribute via