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Report: Snapchat Raises $175M More

Venice-based instant messaging app maker Snapchat has raised another $175M in funding, according to the WSJ this morning, from Fidelity Investments. According to the report, the new funding values Snapchat at $16 billion, the same valuation as the company's last funding injection. Snapchat has now raised more than $1.2 billion in funding.