Venture: Yahoo wants to invest in Snapchat: report
Yahoo has been in talks to take part in a funding round that would value Snapchat at $10 billion
SAN FRANCISCO:
After its investment in Alibaba, Yahoo is angling to buy into hot mobile messaging startup Snapchat, the Wall Street Journal has reported. Yahoo has been in talks to take part in a funding round that would value Snapchat at $10 billion, but how much it plans to invest remained cloudy, according to the Journal. A Yahoo spokesman declined to comment. In a shrewd move led by Yahoo co-founder Jerry Yang in 2005, the California Internet firm paid a billion dollars for a 40% stake in Alibaba that has paid back the investment many times over. Unconfirmed reports surfaced earlier this year indicating that Chinese e-commerce giant Alibaba had been considering investing in Snapchat.
Published in The Express Tribune, October 5th, 2014.
After its investment in Alibaba, Yahoo is angling to buy into hot mobile messaging startup Snapchat, the Wall Street Journal has reported. Yahoo has been in talks to take part in a funding round that would value Snapchat at $10 billion, but how much it plans to invest remained cloudy, according to the Journal. A Yahoo spokesman declined to comment. In a shrewd move led by Yahoo co-founder Jerry Yang in 2005, the California Internet firm paid a billion dollars for a 40% stake in Alibaba that has paid back the investment many times over. Unconfirmed reports surfaced earlier this year indicating that Chinese e-commerce giant Alibaba had been considering investing in Snapchat.
Published in The Express Tribune, October 5th, 2014.