Snapchat’s next round of financing could value the startup at $10 billion. Bloomberg reports the ephemeral messaging app is in ongoing talks with investors, including China’s largest e-commerce company, Alibaba.
Last fall, Snapchat reportedly spurned 10-figure acquisition offers from Facebook and Google. But when Snapchat insisted it wasn’t for sale, companies–including Facebook, Instagram, Tinder, and Path–simply began copying its model.
Back then, critics said Snapchat, which sees more than 700 million “snaps”–photos and videos that disappear after they are views–shared each day, made a bad move by rebuffing these offers, but its valuation could increase by an order of magnitude if this deal with Alibaba goes through. Of course, nothing is finalized yet and the terms or funding amount could change.