AfterDawn: Tech news

Report: Yahoo to invest in popular messaging app Snapchat

Written by Andre Yoskowitz (Google+) @ 05 Oct 2014 23:20 User comments (1)

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

Previous Next  

1 user comment

16.10.2014 13:25

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

Comments have been disabled for this article.

News archive