Messaging App Snapchat Says It Is Worth $19bn

Snapchat - the app which lets you send and receive self-destructing photographs and videos - says it is worth $19bn (£12.4bn). The company is looking to raise up to $500m (£325m) in a new funding round, according to a company source cited by Bloomberg. The app was developed by Evan Spiegel, who turned down a $3bn (£1.94bn) takeover offer from Facebook in 2013.