Snapchat reported to be in funding talksWednesday 30 July 2014 16.21
Snapchat is reported to be in talks with investors, including Alibaba Group, for financing that could value the company at $10 billion, according to Bloomberg.
Snapchat is an app that lets users send messages that disappear after a few seconds and provides tools that let users easily draw on photos.
Alibaba is a Chinese e-commerce giant and by some measures the world's biggest online commerce groups.
The company has already raised more than $100 million of financing from various investors.
The talks are ongoing and the terms of the funding may change, a source told Bloomberg.