Tech Pro: Snapchat Is Valuable, But It's No Facebook

TechCrunch reported that Snapchat is looking to raise $200 million, which would place the company's valuation as high as $22.7 billion.

Speaking to CNBC, International Business Times' Michael Learmonth pointed out that Snapchat's latest round of financing implies it is among one of the most valuable private companies in the world. He noted that only a select few of companies are more valuable, including Uber, Airbnb and China-based Xiaomi.

"I think investors are piling into Snapchat and they are desperate to get in," Learmonth said.

Related Link: Snapchat Could Be Valued As High As $22.7 Billion: Here's Why

Learmonth continued that Snapchat generated $50 million in revenue last year and is projecting to generate $300 to $350 million in revenue this year, implying "incredible" growth. In fact, the tech pro suggested that Snapchat is monetizing its user base at a faster pace than Facebook Inc (NASDAQ: FB) did.

However, it may not be fair to directly compare Snapchat's platform with Facebook's. He expanded that Facebook "knows a ton about its users," but Snapchat "really doesn't."

He added that Snapchat boasts impressive media partnerships along with impressive ad partners that view the platform as a "gateway to young people" who can't be reached through television ad spots.