Snapchat Reportedly Valued at $10bn

Snapchat SelfieMessaging app company Snapchat is reportedly in talks with investors including Chinese eCommerce giant Alibaba Group for a funding round which would value the company at $10bn (£5.9bn), according to Bloomberg.

Both Alibaba and Snapchat have refused to confirm or deny the rumours and its worth noting that even if these rumours turn out to be accurate, the talks are still ongoing, meaning terms might change before a decision is reached.

Nevertheless, its a startling amount for a company which famously turned down a $3bn acquisition from Facebook last year. At the time, the general consensus seemed to be that Snapchat would never see that kind of valuation again but, with Facebook launching not one but two apps – Slingshot and, today, Instagram Bolt – that look like an attempt to keep up with Snapchats popularity, the companys worth actually appears to be on the rise.