Snapchat, an app that lets users send messages that disappear after a few seconds, is in talks with investors, including Alibaba Group Holding Ltd, for financing that could value the company at $10 billion, Bloomberg reported.The terms of the funding may change, Bloomberg said, citing people with knowledge of the matter. (bloom.bg/1kmrSvN)Neither Snapchat nor Alibaba were immediately reachable for comment when contacted by Reuters.Snapchat, popular with teenage users, turned down a $3 billion acquisition offer from Facebook Inc last year, the Wall Street Journal reported in November.
Facebook, Inc. (Facebook), is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 1.61% or $1.19/share to $74.90. In the past year, the shares have traded as low as $36.02 and as high as $76.74. On average, 47729100 shares of FB exchange hands on a given day and today's volume is recorded at 16699334.
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