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Snapchat value could hit $10 billion with possible Alibaba investment

Snapchat value could hit $10 billion with possible Alibaba investment

Posted by Liliana Castaño on July 30, 2014

Last year, Snapchat decided Facebook's $3-billion offer wasn't cool. You know what's cool? $10 billion.

The Venice start-up is reportedly in talks with investors, including Chinese e-commerce behemoth Alibaba Group Holdings, for a round of financing that would value Snapchat at $10 billion.

The discussions are ongoing and terms could change, according to a Bloomberg report, which cited unnamed sources with knowledge of the situation.

If a deal happens, it would be vindication for Snapchat, which spurned a $3-billion takeover offer from Facebook last year to the bewilderment of tech watchers. Google, too, tried to acquire the company, which enables users to send messages that disappear seconds after they're viewed.

But Snapchat executives insisted then that they were in it for the long run and were not content to sell out and turn over the reins of the young company.

 

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