At 100 million daily users strong, Snapchat today revealed that it’s raised over $537.6 million since February.
And Snapchat may raise at least $112 million more, according to a public filing.
This news arrives two months after reports that Alibaba planned to invest $200 million into Snapchat. At the time, the New York Times wrote that a $200 million investment from Alibaba would value Snapchat at $15 billion.
According to CNBC, the complete $650 million round ($537 million + $112 million and some change) may value Snapchat at $16 billion.
Snapchat, channeling its inner Uber, has raised more than $1 billion to date.