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Yahoo to invest in Snapchat, buys MessageMe - report

2014-10-06 14:14:00| Telecompaper Headlines

(Telecompaper) Yahoo wants to reinvest some of the money it made on Alibaba into mobile messaging service Snapchat, the Wall Street Journal reported. Yahoo has committed to an investment in Snapchat at a USD 10 billion valuation, people familiar with the matter said. One of the people said Yahoo is investing about USD 20 million. Both Yahoo and Snapchat declined to comment. Separately, Yahoo has acquired MessageMe, another mobile messaging company, TechCrunch reported, citing sources.

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