China's Alibaba to potentially invest in Snapchat: US media
Published on Jul 31, 2014 3:55 PM
NEW YORK (AFP) - Snapchat has held talks with Chinese e-commerce giant Alibaba toward a possible investment in the mobile-messaging startup, the United States media has reported.
It was not clear whether the discussions will lead to a deal, the reports on Wednesday said.
According to the Bloomberg news agency, the first to report the talks, the terms of the financing could value Snapchat at around US$10 billion (S$12.45 billion).
Snapchat rocketed in popularity, especially among teens, after the initial app was released in September 2011. Created by then Stanford University students, the app allows the sending of text and photo messages that disappear seconds after being viewed.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here