Snapchat 'worth $15bn' after Alibaba invesment
by Staff and agencies from on (#4SR4)
Chinese ecommerce group may be making a defensive move against rival Tencent, which owns WeChat messaging app
Alibaba is investing $200m in Snapchat, propelling the notional value of the photo-messaging app to a stellar $15bn (10bn).
The funding from the Chinese ecommerce company, first reported by Bloomberg, means that Snapchat's worth has increased by $5bn in a matter of months. It dwarfs the $3bn offered by Facebook for the company in late 2013.
Related: Snapchat adds entertainment and news with Discover
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