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Alibaba invests USD 200 mln in Snapchat - report
2015-03-12 08:44:00| Telecompaper Headlines
(Telecompaper) Alibaba group is investing in Snapchat in a deal that values the messaging company at USD 15 billion, the Wall Street Journal reported. The Chinese e-commerce giant has invested USD 200 million in Snapchat, according to two people familiar with the transaction. The valuation of USD 15 billion marks a significant increase from previous investments. Snapchat raised funds from at least two investors, Yahoo and venture-capital firm Kleiner Perkins Caufield & Byers, in a round of funding that valued the messaging start-up at USD 10 billion last year. Other investors include Benchmark, General Catalyst Partners, Institutional Venture Partners, Lightspeed Venture Partners, Coatue Management and DST Global.
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Category:Telecommunications
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