Alibaba could make Tencent-backed Snapchat its latest US portfolio company in a round that would value the picture messaging app at $10bn.
US-based instant messaging app Snapchat has entered talks with internet and e-commerce company Alibaba as part of a funding round that could value it at $10bn, Bloomberg reported yesterday.
Founded in 2011, Snapchat has created an app that enables users to send picture messages to each other that disappear after a few seconds. It added an option to send text messages in May this year.
Snapchat has so far raised approximately $124m in funding, most recently a $50m series C…
