BEIJING: Alibaba Group Holding Ltd is investing US$200mil in photo-messaging app Snapchat, a source familiar with the deal said, striking its latest Silicon Valley deal as the Chinese ecommerce company builds up mobile services.
The investment values the Los Angeles-based company at around US$15bil, according to Bloomberg, citing people familiar with the situation. This places the four-year-old company into the top ranks of privately held startups.
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