A New York Times profile of Snapchat revealed that the startup recently raised $13.5 million in venture capital led by Benchmark Capital. It gives the company a valuation between $60 million and $70 million, despite its lack of a true revenue stream.
That’s big news enough, but a tiny bit of the article highlights something else about the company, whose app allows users to send pictures with preset self-destruct times to one another. Some of the company’s backers see potential in creating a revenue stream for Snapchat by enabling advertisers to send coupons or fashion ideas.
Sexting concerns, be damned
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