Kleiner Perkins Caufield & Byers has agreed to invest in the mobile messaging service Snapchat in a deal valuing the company at close to USD 10 billion, people with knowledge of the matter told the Wall Street Journal. Snapchat, which has talked to several potential investors in recent months, is in the process of raising a large investment round, and the venture capital firm Kleiner committed to invest up to USD 20 million in May, the report said.
At least one strategic investor has also committed to invest in the round, which isn't yet closed. DST Global, the Russian investment firm led by Yuri Milner, also invested in Snapchat earlier this year at a valuation of USD 7 billion, according to two people familiar with the matter.
Snapchat is estimated to have over 100 million monthly users, according to people briefed on the company’s internal metrics. Roughly two-thirds of those users log on to the messaging service daily. To date, the company has raised over USD 160 million from investors.
