11.04.2013 - Business Insider
In April 2012, venture capital firm Lightspeed Venture Partners invested $485,000 in a startup called Snapchat. Snapchat allows users to send each other self-destructing photos. According to reports, the investment gave Snapchat a $12.5 million valuation. Today, Snapchat is worth $800 million. According to the Pew Research Center, 9% of all American cellphone owners use the app.