NEW YORK. Since
the exchange floor, the largest e-commerce company in China, Alibaba
Group Holding continues to grow the business and to accumulate good
fortune. Most newer, Alibaba plans to invest in Snapchat, a photo sharing application.
Alibaba will invest US $ 200 million in Snapchat. These investments resulted in valuations of companies in the range of US $ 15 billion. This will make Snapchat as one of the top startup companies trailing Uber Technologies Inc.
In discussions last month, Snapchat based in Los Angeles seeking fresh funds of up to US $ 500 million. Thus, the valuation of the company is expected to increase to US $ 19 billion.
Alibaba reportedly will disburse capital beyond the funding round. However, Alibaba declined to comment on the fund. Likewise also the Snapchat is still silent about fundraising. "We are well known for not speaking of the future," said Chief Executive Officer Evan Spiegel Snapchat as reported by Bloomberg.
Snapchat developed by two young children namely Evan Spiegel and Bobby Murphy. The two met at Stanford University in 2009. Three years later, in September 2011, Snapchat slide in the AppStore. With this application, users can take pictures as weird and funny as possible and then divide with others without having to store the photos on the phone.
In an instant, Snapchat users quite a lot, especially among teenagers. This application has been sent 700 million snap photos and share the stories of more than 500 million every day. Hence, many investors began to bid Snapchat. No exception acquisition offer from Facebook Inc. in 2013 valued at US $ 3 billion. However, this attractive offer was rejected by Snapchat.
Over the past year, Snapchat managed to collect 23 investors with valuations reached US $ 10 billion. With a market capitalization of more than US $ 200 billion, and a large amount of cash, Alibaba has invested heavily abroad.
The company led by Jack Ma has continued to develop e-commerce business with smartphone technology advances. Snapchat addition, several deals Alibaba is investing US $ 215 million in Tango, chat applications.
Then, Alibaba also invest in Lyft, application sharing. One internal source said, companies doing business in the United States (US) is one strategy Alibaba become world number one player.
Alibaba will invest US $ 200 million in Snapchat. These investments resulted in valuations of companies in the range of US $ 15 billion. This will make Snapchat as one of the top startup companies trailing Uber Technologies Inc.
In discussions last month, Snapchat based in Los Angeles seeking fresh funds of up to US $ 500 million. Thus, the valuation of the company is expected to increase to US $ 19 billion.
Alibaba reportedly will disburse capital beyond the funding round. However, Alibaba declined to comment on the fund. Likewise also the Snapchat is still silent about fundraising. "We are well known for not speaking of the future," said Chief Executive Officer Evan Spiegel Snapchat as reported by Bloomberg.
Snapchat developed by two young children namely Evan Spiegel and Bobby Murphy. The two met at Stanford University in 2009. Three years later, in September 2011, Snapchat slide in the AppStore. With this application, users can take pictures as weird and funny as possible and then divide with others without having to store the photos on the phone.
In an instant, Snapchat users quite a lot, especially among teenagers. This application has been sent 700 million snap photos and share the stories of more than 500 million every day. Hence, many investors began to bid Snapchat. No exception acquisition offer from Facebook Inc. in 2013 valued at US $ 3 billion. However, this attractive offer was rejected by Snapchat.
Over the past year, Snapchat managed to collect 23 investors with valuations reached US $ 10 billion. With a market capitalization of more than US $ 200 billion, and a large amount of cash, Alibaba has invested heavily abroad.
The company led by Jack Ma has continued to develop e-commerce business with smartphone technology advances. Snapchat addition, several deals Alibaba is investing US $ 215 million in Tango, chat applications.
Then, Alibaba also invest in Lyft, application sharing. One internal source said, companies doing business in the United States (US) is one strategy Alibaba become world number one player.
