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Snapchat on Friday informed US regulators that it has raised $537 million in a new round of equity funding that could climb as high as $650 million. The vanishing-message service did not disclose who bought stakes in the Los Angeles-based company, which came at a price estimated to give Snapchat a value of more than $15 billion, according to media reports. US media reports indicated that Snapchat investors in this latest round of fund raising included Chinese e-commerce titan Alibaba.
By Jilian Mincer NEW YORK (Reuters) - Allison Armour loves fashion, but doesn't need to keep it in her closet. The 24-year-old frequents privately-held chain Crossroads Trading Co, where she buys brand-name goods secondhand at a discount, then sells the items back when she wants to refresh her look. Armour, a marketing manager for a nonprofit in Oakland, California, has picked up skirts and shirts, Oxford shoes for $30, a J.Crew trench coat for $40 and a Dooney & Bourke satchel for $150, less than half its retail price.