An article Billboard published two days ago pointed to an imminent funding round for Snapchat which has, up until now, raised $830 million across six rounds. The estimate for this latest round was about $200 million. That figure was off by about $1.6 billion.
In a filing with the SEC signed yesterday by Snapchat's lawyer Eric Jensen, the company is trading an undisclosed amount of equity for $1,808,560,006. The figure is staggering and, one would hope, will keep the company chugging along steadily for the foreseeable future.
While these sums are practically unfathomable to those of us who still think a million dollars is a lot of money, it is far, relatively, from the largest tech funding round in history. That happened last month, when the financial service division of Chinese commerce giant Alibaba drew a $4.5 billion round, as the Wall Street Journal reported at the time.