According to Business Insider, the familiar yellow Snapchat logo appeared to the website of CapitalG formerly Google Capital. Last Friday, Google Capital rebranded itself to CapitalG. It was then revealed that the investment was done when the Snapchat logo appeared to its portfolio page. Business Insider later committed that Snap Inc. is now a portfolio firm of the growth equity arm of Alphabet.
The San Francisco based CapitalG, also invested in tech start-up companies including Airbnb, Uber, SurveyMonkey, Glassdoor and the Duolingo language learning app.
Earlier this year, Snapchat raised up to $1.81 billion in round of funding causing the company's value to round up to around 420 billion. The company reported in a regulatory finding and many press reports that the firm was on the end of offering an Initial Public Offering in early 2017 with its worth ranging from $25 to $40 billion.
In 2013, rumours from several bloggers said that Google once offered to acquire the later then known Snapchat before it renamed itself to Snap Inc for $4 billion after it declined a Facebook procurement with a $3 billion offer.
The two firms have always been on good terms with each other. In fact, Snapchat is still one of the prime consumers of Google's cloud infrastructure, even though Snapchat lately took a data center specialist in their custody.
Since 2013, CapitalG has capitalized in 21 enterprises that specialize in big data, financial technology, security, and e-learning focusing on later stage and growth equity investments.
Before the CapitalG's rebranding, Google Inc. proclaimed plans for business reorganization wherein the company would become the secondary of a new umbrella company, Alphabet Inc. also known as the parent company of Google and some other companies they formerly own.
"Our goal is to make returns-driven investments in leading companies around the world and help entrepreneurs rapidly grow their businesses," says CapitalG on its website.
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