Snapchat can come in very handy when you want to get your point across but a text seems like far too much effort.
That said, we never thought we’d see the day the app would be worth a grand total of $15 billion (and yes, you read that correctly).
According to reports today, the popular messaging app app was valued at the princely sum of $15 billion after a Chinese e-commerce giant by the name of Alibaba invested $200 million.
It’s pretty easy to become competitive when it comes to Snapchat scores…
The New York Times reports that the news came from two people familiar with the deal’s terms.
However, because they are not authorised to speak about the deal as of yet, they have asked to remain anonymous.
Alibaba was founded by entrepreneur Jack Ma in 1998 and it is China’s biggest e-commerce company.
Neither party has commented on the news.
