Report: Yahoo to invest in popular messaging app Snapchat

Report: Yahoo to invest in popular messaging app Snapchat
According to sources, Yahoo plans to use some if its Alibaba proceeds to buy a stake in popular messaging app Snapchat.

Yahoo owns a 22 percent stake in the company valued at $46 billion (before taxes), and CEO Marissa Mayer recently confirmed the company would be selling half of its shares.



Snapchat does not make any money but will be valued at around $10 billion in its next funding round. It is unclear how big of a stake Yahoo is looking to take.

The messaging app allows you to chat with friends and also send pictures that disappear in a matter of seconds.

Source:
Reuters


Written by: Andre Yoskowitz @ 5 Oct 2014 23:20
Tags
Yahoo Funding Snapchat
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  • 1 comment
  • hearme0

    Oh man......I need to get on the wagon and create an app and sell it!

    6.10.2014 13:25 #1

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