Snapchat in funding talks with Alibaba at $10 billion

Snapchat Inc., the company that makes a mobile application for disappearing photo messages, is in talks with investors including Alibaba Group Holding Ltd. (BABA) for a round of financing that may value the company at $10 billion, people with knowledge of the situation said. If the funding is completed, Snapchat would join a small group of technology startups that are valued in the eleven-digit range. In June, car-booking app Uber Technolgies Inc. raised $1.2 billion at a record-breaking valuation of $17 billion. Jim Wilkinson, a spokesman for Alibaba, declined to comment, as did Mary Ritti, a spokeswoman for Venice, California-based Snapchat.

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