Deals
Snapchat Said Near Funding With Kleiner at $10 Billion Valuation
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Snapchat Inc. is near a round of funding at a valuation of about $10 billion from investors including venture capital firm Kleiner Perkins Caufield & Byers, according to a person with knowledge of the matter.
The Los Angeles-based startup, which makes a mobile application that sends disappearing photo messages, earlier had been in talks for financing at a $10 billion value, including discussions with Alibaba Group Holding Ltd., people with knowledge of the situation have said. While the conversations with Alibaba ended without a deal, the startup continued to meet with other investors, the people said earlier this month.