Latest and Greatest...

Alibaba to invest $200 Million in Snapchat

Posted by:

snapchat logo

Messaging app Snapchat is poised to receive a $200 million investment from Chinese e-commerce giant Alibaba, according to a report by Bloomberg.

Alibaba has not confirmed the investment.

The cash injection would come only a month after Snapchat said that it was seeking a valuation of $19 billion. At the end of last year it was valued at $10 billion.

Snapchat, which is understood to have monthly average users of close to 200 million, is increasing its news and entertainment functionality. AT&T recently announced that it would partner with the firm to launch a scripted superhero series.


Thank you

By: Patrick Frater




  • No related posts found.