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Post by The Ultimate Nullifier on Mar 12, 2015 7:33:17 GMT -6
variety.com/2015/digital/news/chinas-alibaba-poised-for-200-million-snapchat-investment-says-report-1201451090/Messaging app Snapchat is poised to receive a $200 million investment from Chinese e-commerce giant Alibaba, according to a report by Bloomberg. Alibaba has not confirmed the investment. The cash injection would come only a month after Snapchat said that it was seeking a valuation of $19 billion. At the end of last year it was valued at $10 billion. Snapchat, which is understood to have monthly average users of close to 200 million, is increasing its news and entertainment functionality. AT&T recently announced that it would partner with the firm to launch a scripted superhero series.
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