Snapchat Raises Yet Another (Huge) Funding Round

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A guest is seen outside the Tibi show with a white ghost Snapchat backpack during New York Fashion Week: Women's Fall/Winter 2016 on Feb. 13, 2016 in New York City.

Snapchat's (perceived) value continues to balloon. Citing sources close to the deal, TechCrunch reports that the company is negotiating a $200 million funding round -- less than three months after raising $175 from Fidelity.

The round puts its estimated value at over $20 billion.

The company has stayed busy this year, drawing ire for a Bob Marley-themed face filter around the pot holiday 4/20, signing up Viacom, and hiring a new product vp from Pandora.