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Kleiner To Invest In Messaging Startup Snapchat At Near-$10 Billion Valuation: Report

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A portrait of the Snapchat logo in VenturaVenture capital firm Kleiner Perkins Caufield & Byer has agreed to invest in fast-growing messaging startup Snapchat at a valuation close to $10 billion, the Wall Street Journal reported on Tuesday, citing people with knowledge of the matter. At least one other strategic investor has committed to joining the latest round of funding, the Journal cited two of the people as saying. If the deal goes through, Snapchat would join a select club of tech startups with valuations of $10 billion or more, including car-ride service Uber and rooms-to-let startup AirBnB. Snapchat is similar to a new crop of popular mobile messaging apps that compete with established Internet services such as Twitter Inc's and Facebook.




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