The WSJ reports leading VC firm Kleiner Perkins has committed to invest in Snapchat at nearly a $10B valuation. Kleiner reportedly "committed to invest up to $20 million in May," and at least one "strategic investor" is also said to be taking part in the funding round.
Alibaba was previously reported to be eying an investment in Snapchat at a similar valuation, but talks are believed to have ended without a deal. Facebook was famously rumored to have made a $3B+ offer for the ephemeral messaging service before turning its sights on WhatsApp.
The WSJ also reports Snapchat now has 100M+ monthly active users (MAUs). That still leaves it behind Instagram's 200M+, Twitter's 271M (at the end of Q2), WeChat's 438M (also at the end of Q2), and WhatsApp's 600M+. Snapchat reportedly plans to monetize its users through an ad service later this year.
Naver's (OTC:NHNCF) Line unit, looking to go public in NYC and Tokyo at a ~$10B valuation, must be pleased to see the report. Line is closing in on 500M registered users (different from MAUs) for its mobile messaging service.