Times of India — SAN FRANCISCO: Ephemeral messaging app Snapchat by year’s end will have more US users than either Twitter orPinterest , a market tracker said Wednesday. The number of people using Snapchat in the United States will leap more than 27% this year to 58.6 million, meaning that nearly one in five people in the country will be using the service, according to an eMarketer forecast.
Chinese e-commerce giant Alibaba plans to invest $200 million in Snapchat at $15 billion valuation, sources tell Bloomberg. This funding would be in addition to, not part of, the $500 million funding round Snapchat was reportedly in talks about last month, sources tell Bloomberg’s Serena Saitto. That round had Snapchat valued at $19 billion, instead of $15 billion. This isn’t the first time Alibaba’s name has come up in funding talks. Saitto reported that the two companies were in discussions about a round at a $10 billion valuation back in July.
Alibaba’s spending spree continues! The Chinese ecommerce behemoth has just given American chat startup Snapchat a US$200 million cash infusion, a source familiar with the deal told Tech in Asia. This latest investment values the American company at around US$15 billion. Neither company has officially announced the investment yet.
Tencent has made a new social play in the same vein as Snapchat to appease China’s “post-90s” youths. The web giant made a fresh US$20 million series A investment into Blink, a new photo sharing and messaging app out of China. Sequoia Capital, H Capital, ZhenFund, and Innovation Works also participated in the round, according to Techweb.
[BANGALORE] Snapchat Inc’s financing talks with China’s Alibaba Group Holding are over, Bloomberg reported, citing people familiar with the matter. The developer of a popular app that allows users to send messages that disappear after a few seconds was reportedly in talks last week with investors, including Alibaba, for financing that could value the company at US$10 billion.