Alibaba ploughs $200 million into Snapchat in latest startup deal: source

March 11, 2015 admin alibaba-group, citing-people, cnn, country-manager, hangzhou, rocket, snapchat, source-familiar, united, venture-capital

Alibaba Group Holding Ltd is investing $200 million 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 company at around $15 billion, according to Bloomberg, citing people familiar with the situation as saying.

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Alibaba ploughs $200 million into Snapchat in latest startup deal: source