Super-popular image sharing app Snapchat has just received a new valuation after receiving interest from a number of investors.
According to a recent Bloomberg report, Snapchat may be worth up to 10 billion dollars. This news comes off what was seen as a brazen act by Snapchat in 2013 when the still-new company apparently turned down a 3 billion dollar offer from Facebook in pursuit of greener pastures.
TechCrunch also mentioned that they have received tips in the past from their sources regarding the large figure, making this seem like less of a surprise, and more of a formality.
The most interesting story line in this new valuation is that two Chinese tech giants may soon be at odds over one of the potential investments.
Tencent and Alibaba have a long history of competition in China, and this new deal may put a controlling stake of investment in Alibaba’s hands, even though it was recently revealed that Tencent has been a covert investor in Snapchat for some time.
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