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Snapchat, the fast-growing application known for its disappearing messages, disclosed Thursday it has raised more than $1.8 billion in new funding. In a document filed with the Securities and Exchange Commission, Snapchat did not include an estimate of the implied value of the company. The investors in the new round were not named but TechCrunch said the participants included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management and Fidelity.
WASHINGTON (AP) — Orders to U.S. factories for long-lasting manufactured goods rose in April by the most since January. But much of the strength came from a surge in the volatile category of commercial aircraft. A key category that tracks business investment fell for a third straight month, a sign that manufacturing remains under stress.