Snapchat in talks with Alibaba for $10bn financing

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