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Snapchat, Alibaba ready to invest 10 billion dollars

The startup aims at a $ 10 billion financing round with China's largest ecommerce company

(Photo: Getty Images)(Photo: Getty Images)

Snapchat Inc, the company that created the application to make photo messages disappear, in negotiations with some investors including Alibaba Group Holding Ltdfor a round of financing that can bring the evaluation of the company up to10 billion dollars.

Some rumors say that the talks are underway with the financing conditions which can obviously change; if the financing is completed, Snapchat could become part of a child startup group technologies that have recently been evaluated for a value of eleven figures, including the app of AirBnb Inc. and the file-sharing company Dropbox Inc.

There popularity of Snapchat in continuous growth, with really high numbers: the people they send every day messages to disappear are more than 700 million and are more than 500 million the stories seen every day. The growth has led the company to compete with Facebook, which, after trying to buy Snapchat for $ 3 billion last year and being rejected, started creating its own product to send photos and videos, Slingshot. A second app to send photos that are erased in time coming soon: it's called Bolt and has already been published only in New Zealand.


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