Alibaba may be looking to get a piece of Snapchat. According to Bloomberg, the online shopping behemoth is pinning Snapchat at a $15 billion valuation to prepare for an investment.
Alibaba is China’s largest e-commerce company, and it’s second worldwide only to Amazon. The report suggests Alibaba would invest $200 million in the ephemeral messaging company.
Snapchat was purportedly working on a $500 million funding round last month. According to Bloomberg, Alibaba’s investment is separate from that round.
Snapchat has recently been adding numerous features as it looks to expand beyond simple temporary picture messages. Most notably, a new Discover features allows users to explore a variety of editorial content produced specifically for the platform.
➤ Snapchat Is Raising Money From Alibaba at a $15 Billion Valuation [Bloomberg]
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