I'm curious as to what materially materially changed in 6 months since Fidelity invested (at $15bn pre-money)[1], considering Snapchat it looks like they have been ramping it's revenue[2]. Maybe slowing user acquisition or lower than projected revenue growth?<p>1. <a href="https://www.crunchbase.com/funding-round/4a2de2da69d5ccaac8589108c8055e42" rel="nofollow">https://www.crunchbase.com/funding-round/4a2de2da69d5ccaac85...</a>
2. <a href="http://www.businessinsider.com/snapchat-is-on-track-to-generate-100-million-in-revenue-2015-10" rel="nofollow">http://www.businessinsider.com/snapchat-is-on-track-to-gener...</a>