Google Capital added Snapchat to its list of investments as part of a brand refresh and website redesign.
Google Capital re-branded Friday as CapitalG. It was formed in 2014 to invest in more mature businesses. The goal, according to its website, is “to make returns-driven investments in leading companies around the world.”
An investment in Snapchat opens the door for a closer relationship with a buzzy startup that is expanding into several areas of interest for Alphabet.
Snapchat, which recently re-branded as Snap Inc., has raised more than $2 billion in funding and is widely rumored to be planning a public offering early next year at a valuation as high as $35 billion.
References:
http://money.cnn.com/2016/11/04/technology/google-snapchat-investment/index.html
flickr photo by AdamPrzezdziek https://flickr.com/photos/67683836@N02/16910572286 shared under a Creative Commons (BY-SA) license
