Alibaba Invests $200m In Snapchat

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Chinese internet giant, Alibaba has invested approximately $200m (£133m) in a stake in messaging application, Snapchat, the BBC understands.

That values the four-year old firm at nearly $15bn (£10bn)makes it one of the world’s most valuable start-ups.

Snapchat allows users to send text and picture messages which disappear in 10 seconds.

Snapchat says its users send 700 million snaps daily, recently started generating revenue from advertising.

The $15bn valuation puts the business in a league with taxi service Uber and Xiaomi, the Chinese smartphone maker.

Alibaba has invested in a range of start-ups in China, but its portfolio in the US is relatively small.

The company has stakes in video call app TangoMe and Lyft, a competitor to Uber.

1 COMMENT

  1. Chinese articulate special economic zone capitalism has produced mega private companies like ali baba etc that helped made it the global greatest economy, lending to all other nations including usa.She is governed mostly by technocrats,engineers and scientists and this has inspired their youths to produce their own bill gates,steve jobs, zuckenburgs etc while nigerian youths blog political quarrels,premiership soccer,reality shows and everything devoid of a future.I hope they change and emulate the chinese now and produce their talents and entrepreneurs in all fields since we are really talented .I also commend lagos education ministry and others for introducing chinese language in schools which is already a formidable business language in this age

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