Bloomberg: Alibaba looking to invest in Snapchat at $10B valuation

|About: Alibaba Group Holding Limited (BABA)|By:, SA News Editor

Bloomberg reports Alibaba (Pending:BABA) and other investors are in talks with Snapchat to invest in the ephemeral messaging service at a potential $10B valuation.

Last year, Snapchat was reported to have rejected a $3B+ offer for Facebook; one report stated Google made a $4B offer.

The reported valuation is on par with the pre-IPO target set by Asian mobile messaging giant Line (OTC:NHNCF), which has far more users (470M+ registered) and revenue ($338M in 2013) than Snapchat. It's also equal to 53% of the $19B price paid by Facebook for WhatsApp (500M+ active users).

Alibaba has been on a huge investment spree ahead of its IPO, which is expected to arrive at some point after Labor Day.