by Sahil Patel
Snapchat eventually wants to be known as a media company. The Los Angeles-based startup now has even more money to make that possible.
According to a filing with the SEC, Snapchat has raised $537.6 million from a group of 35 investors in the past few months, and hopes to raise as much as $112 million more as part of a massive $650 million round. Even without the additional capital, Snapchat has raised more than $1 billion in the past year alone; it raised more than $485 million in a Series D round that closed at the end of 2014.
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