Alibaba invests USD 200 mln in Snapchat - report

News Wireless Global 12 MAR 2015
Alibaba invests USD 200 mln in Snapchat - report

Alibaba group is investing in Snapchat in a deal that values the messaging company at USD 15 billion, Bloomberg reported. The Chinese e-commerce giant plans to invest USD 200 million in Snapchat, people familiar with the situation said. 

A report a month ago said that Los Angeles-based Snapchat was in discussions to raise a total USD 500 million in a round of financing that could value the company at USD 16-19 billion. Last year Snapchat raised funds from at least two investors, Yahoo and venture-capital firm Kleiner Perkins Caufield & Byers, in a round that valued the messaging start-up at USD 10 billion. 

Other investors in Snapchat include Benchmark, General Catalyst Partners, Institutional Venture Partners, Lightspeed Venture Partners, Coatue Management and DST Global. According to TechCrunch, Saudi Arabia's Prince Alwaleed Bin Talal is also considering participating in the latest fund-raising at the company. 

Categories:

Mobile

Companies:

Alibaba,  Snapchat

Regions:

Global

Tags:

Messaging, IT - applications, Financial funding

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