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Snapchat Raises $50 Million

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Photo-messaging service Snapchat has raised a $50 million round of funding from Coatue Managment. The company had declined a $3 billion acquisition offer from Facebook in November this year.

Coatue Management is a global investment manager focused on public and private companies in the technology, media and telecommunications space. Investments made by the firm include HotelTonight and Box.

[Image courtesy: Snapchat]

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