Snapchat raised a few eyebrows when it turned down a $3 billion buyout offer from Facebook, but since then the ephemeral messaging app has been pitted as the biggest rival to WhatsApp, the app Facebook did buy for $19 billion.
Since then Snapchat has done quite well for itself, and has apparently raised funding at an unbelievable $15 billion valuation from Alibaba in March this year.
However, looking at Snapchat’s January – November 2014 financials, the company apparently lost a whopping $128 million while bringing in just $3 million in revenues according leaked financials obtained by Gawker.
The company began earning revenues via ads only in October 2014 so it should be considered that the leaked financials don’t exactly reflect Snapchat’s current earnings. Still, $3 million a month is far from what the company is burning.