Latest in Alibaba

Image credit:

Is Snapchat really worth $10 billion?

Matt Brian, @m4tt
07.30.14
23 Shares
Share
Tweet
Share
Save

Sponsored Links

While competitors are busy cloning Snapchat in an attempt to replicate its success, Evan Spiegel and co. have continued to forge their own path. The company is already experimenting with new features in an attempt to generate revenue, but it's also apparently talking to some big hitters to ensure it can keep growing until those profits come. According to Bloomberg, Snapchat is currently in talks over a new round of funding with investors, which include Yahoo-backed Alibaba, that if confirmed could value the company at an incredible $10 billion. It's a significant figure, not only because it puts it on par with both Dropbox and Airbnb, but it's around three times the amount Mark Zuckerberg's Facebook is rumored to have offered to acquire the company last year. Not bad for a service that's known mostly for evaporating text and photo messages. Snapchat is understandably keeping quiet about its latest round of talks, and the figures could well change before the funding closes. Regardless of what happens, it appears Snapchat's decision to hold out and grow the service was the right one.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
23 Shares
Share
Tweet
Share
Save

Popular on Engadget

Dark mode is coming to WhatsApp for Android

Dark mode is coming to WhatsApp for Android

View
Facebook's new robot AI can get around efficiently without using a map

Facebook's new robot AI can get around efficiently without using a map

View
Is this the back of the Xbox Series X?

Is this the back of the Xbox Series X?

View
Amazon Pharmacy may expand to the UK, Canada and Australia

Amazon Pharmacy may expand to the UK, Canada and Australia

View
Bloomberg: Apple will start making a smaller, cheaper iPhone in February

Bloomberg: Apple will start making a smaller, cheaper iPhone in February

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr