Messaging service Snapchat has garnered $50 million more in financing from two investors, CNET reported.
The startup, which made recent headlines for reportedly turning down a $3 billion offer from Facebook, filed a new form D with the Securities and Exchange Commission on Wednesday.
According to a filing that surfaced last week, the company is valued at $2 billion. The recent funding is much lower than the estimation of $200 million that was suggested in earlier reports.
Snapchat's last round of fundraising brought in $60 million at a pre-money valuation of $800 million, CNET said.
The company, which has remained profitless so far, sends more than 400 million ephemeral photo and text messages a day. The ephemeral "snaps" disappear after 10 seconds and are reportedly a hit with tweens and teenagers.
Snapchat also made waves this week after it filed for a temporary restraining order against a man who claims to have co-founded the company. Frank Reginald Brown allegedly gave confidential information about the startup to the media, Reuters reported.
The company claims Brown leaked deposition testimony that "Snapchat had designated as confidential under the Protective Order entered in this case," according to court documents.
Brown is suing the company for breach of partnership agreement, claiming the company and its founders are "denying" him his rightful contribution in founding the successful company.
While the report of the Facebook offer was never confirmed, multiple investors have wooed the Los Angeles startup to acquire its smartphone app, according to a report from The Wall Street Journal.
Two-year-old Snapchat has yet to make any profit from its photo-messaging app. In June, the company raised $60 million from investors, which brought the company up to an $800 million value.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?
