Snapchat in talks with Alibaba for $10bn financing

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alibaba groupSnapchat Inc. is in talks Alibaba Group Holding Ltd (BABA) for a financing round value the photo messaging app maker at $10 billion, Bloomberg News reported, citing knowledge the . Snapchat makes an app allows photos disappear seconds after they are viewed. [eap_ad_2]The company has already raised than $100 million funding from investors, including Lightspeed Venture Partners, Benchmark, Institutional Venture partners, General Catalyst Partners and SV Angel, said Bloomberg. Alibaba has filed for a .S. initial public offering ’s expected be launched later this year.[eap_ad_3]