TweakTown
Tech content trusted by users in North America and around the world
6,097 Reviews & Articles | 39,130 News Posts

Snapchat rumored to be worth $10 billion after failed Facebook bid

Alibaba is reportedly talking with Snapchat, which could be valued at over $10 billion (HKG:1688, NASDAQ:FB)

| Business, Financial & Legal News | Posted: Aug 4, 2014 9:14 am

It wasn't that long ago that rumors were circling that Facebook tried to acquire Snapchat for $3 billion, and then Google took a turn offering up $4 billion, but now it looks like we're finding out why Snapchat held off.

 

TweakTown image news/3/9/39447_04_snapchat_rumored_to_be_worth_10_billion_after_failed_facebook_bid.jpg

 

Snapchat Inc. is reportedly in talks with investors including Alibaba Group Holding Ltd. for a round of funding that would see the company valued at $10 billion. This might not seem like that high of a number thanks to Snapchat seeing over 700 million "snaps" per day, and over 500 million stories viewed daily. Snapchat competes directly against Facebook, and even more so now that it was adding mobile messaging features to its service.

 

Snapchat's previous round of funding saw the company raise over $100 million with investors such as Lightspeed Venture Partners, Benchmark, Institutional Venture Partners, General Catalyst Partners and SV Angel.

NEWS SOURCES:Business.financialpost.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases