Yahoo is reportedly investing in Snapchat, its first major move since the web giant received an influx of cash from the Alibaba IPO.
The investment will value Snapchat at $10 billion, according to the The Wall Street Journal, although no details are currently available as to how much of the messaging company Yahoo is buying.
That valuation backs up another story from late August that stated Snapchat was in talks for a funding round that would value it at $10 billion. It is the unclear if the two funding stories are related. Yahoo and Snapchat spokespeople did not immediately respond to requests for comment. Read more…
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Flush With Alibaba Cash, Yahoo Reportedly Looks to Invest in Snapchat
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