Snapchat Looks to Raise $500 Million USD from Alibaba, Saudi Arabia's Alwaleed Bin Talal
In looking to secure a valuation of as much as $19 billion USD, Snapchat is seeking to raise $500
In looking to secure a valuation of as much as $19 billion USD, Snapchat is seeking to raise $500 million USD in a new round of funding. Interestingly, Bloomberg has reported that Chinese e-commerce giant Alibaba is in talks to invest as much as $200 million at a $15 billion USD valuation while TechCrunch notes that billionaire Saudi investor Prince Alwaleed Bin Talal — a man Forbes estimates is worth $22.7 billion USD and one who has previously invested in the likes of Apple, Twitter, AOL, Motorola and Fox — is also involved. Though Bloomberg claims Alibaba’s potential investment is separate from the actual fundraising round, sources have reportedly have confirmed otherwise.
The Los Angeles-based messaging app — as well as Alibaba — have both declined comment. To date, Snapchat has raised $648 million USD from investors. Furthermore, Alibaba and Snapchat were previously said to be linked last year, though a deal never ended up coming to fruition.
