(Telecompaper) Messaging app Snapchat is raising another USD 650 million in equity financing. According to a SEC filing, the company already raised USD 538 million of the round in recent months and targets a total USD 650 million. New investors in the latest round include Alibaba and the hedge funds Glade Brook Capital Partners and York Capital Management. The financing values Snapchat at USD 16 billion, a person familiar with the matter told the Wall Street Journal. This is 60 percent more than its previous funding round in December.