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snapchatAllThingsD reports that Snapchat, the popular photo-sharing app, has raised $60 million in a Series B round of funding, which was led by Institutional Venture Partners (IVP), along with participation from Catalyst Partners and SV Angel, and continued pro-rata participation from Benchmark Capital and Lightspeed Venture Partners. With this round, the company has raised close to $75 million, and the company is being valued at $800 million. Evan Spiegel, co-founder of Snapchat has said that the service features over 200 million clicked photos and videos captured by its users on a daily basis. Spiegel said, “This is almost all about scaling for us, we’re using the money mostly for server builds and hiring purposes.”  Read more

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