Report: Snapchat Talking to Alibaba Group Regarding Potential Investment

Potential valuation reportedly $10 billion

Photo messaging service Snapchat held talks with Chinese Internet giant Alibaba Group about a potential investment, Bloomberg News reported. The pioneering disappearing messaging service received a reported potential valuation of $10 billion, although "The talks are ongoing and the terms of the funding may change," an anonymous source told Bloomberg News.

Snapchat is by far the leader in the disappearing photo messaging space, a category the application invented. The application's popularity spurned a host of other applications attempting to offer a similar service, such as Facebook's Poke and Instagram's Bolt.

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