The developer of a popular app that allows users
to send messages that disappear after a few seconds was
reportedly in talks last week with investors, including Alibaba,
for financing that could value the company at $10 billion.
Discussions between the two companies have not been active for
some time, Bloomberg said, citing other people familiar with the
Chinese e-commerce giant Alibaba, which is preparing for a
September 2014 debut on the New York Stock Exchange, has left
the door open to continue the funding talks after its initial
public offering, Bloomberg reported.
Snapchat, popular among teenage users, turned down a $3 billion
acquisition offer from Facebook Inc <FB.O> last year, the Wall
Street Journal reported in November.
Neither Snapchat nor Alibaba were immediately available for
comment when contacted by Reuters.
(Reporting by Kanika Sikka in Bangalore; Editing by Ken Wills)
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