May 1, 2012- Snapchat receives $485k in seed funding
December 1, 2012- Snapchat receives $12.5 million Series A funding at $70 million valuation
June 23, 2013- Snapchat raises $60 million in Series B funding plus a $20 million secondary at $880 million valuation
Welcome to the mobile Internet bubble! In less than a year, this seemingly ridiculous app which by its micro 10-second photo nature is designed to naturally inflate its metrics is being valued at just under a billion dollars. Forget that Facebook (FB) already bought a photo app, that that app is still not being monetized, that this application is a potential child porn liability nightmare, that it adds little marginal utility to the mobile universe,...