According to sources Yahoo and Snapchat have held talks that are expected to lead to Yahoo investing in the popular messaging apps next round of funding. Snapchat is valued at around $10 billion and well over 100 million downloads.
I am sure many of you are aware of what Snapchat is, but for those that aren’t here ya go. It is a messaging app that lets you send text, photos and video to other Snapchat friends instantly. Nothing ground breaking there. However, the messages, images and videos are only available for a very short period of time, 10 seconds, before they are erased from the servers and your device. Some have called it the near perfect cheaters tool.
Talks of investing are just that right now, talks. We don’t know how much Yahoo might be putting upfront or what it would mean for Snapchat. Reuters reports that there are two others that will be investing in the business as well, Institutional Venture Partners and DST Global. Both have previously invested in the company.
At least we know this is planned as an investment vs a purchase like they did with Aviate. That should mean the purple coloring and a ‘by Yahoo’ tag won’t be getting added. Anything is possible though. All depends on the deal and investment I suppose.
Source: Reuters
