The top-ranked #1 tech startup in the United States today is an online retailer called The Department Store, which recently launched a video chat service called Snapchat.
The company announced on Monday that it had raised $20 million in a Series A round led by Sequoia Capital.
Snapchat is a messaging app that allows users to record video and share it with one another.
Its app was one of the first to offer video chat.
Snapchat also launched a mobile app called MySpace.
Its apps are popular with young people, with one recent study estimating that as many as 3 million Snapchat users in the U.S. are aged 15 to 24.
Snapchat has about 200 million active users, according to its investors.
The #1 startup in #US today is #TheDepartmentStore, a #online-retailer-only app that is popular with teens.
It’s #1 on our list of #top-ranked tech companies in #theworld pic.twitter.com/5mEb3kZHVt — Sequoias Capital (@Sequoias) January 26, 2019 The company has more than 500 employees in the San Francisco Bay Area, which is the largest U.K. city in terms of tech jobs.
Snapchat has raised more than $2 billion in funding.
Instagram CEO Kevin Systrom announced last year that the app had reached more than one billion monthly active users.
Snapchat was one the first tech companies to get into video chat, and Systrom said that it has grown to become the third-most popular video chat app.
A Snapchat spokesperson said the company is adding more video chats to its service.
While The Department Stores Snapchat app has more users, it’s also more popular among teens.
Snapchat had more than 100 million daily users in October, according for the company.
“We are always striving to be more innovative, so we’re constantly trying to make our app even better,” the spokesperson said.
“We believe that the right way to create an interactive experience is to allow people to create a conversation, share images, and share their ideas.”
Systrom said in an interview that the company’s video chat is now the #1 video chat in the country.
Snapchat currently has about 1.5 million video chats.
The app has also launched other apps, including a mobile-only Snapchat that lets users record and share photos and videos.
More:Snapchat will also soon add a live video chat feature that allows anyone to join the conversation.