Alibaba to invest £133m into Snapchat
When the deal goes through, Snapchat would be among the latest Silicon Valley startups Alibaba has backed.
When the deal goes through, Snapchat would be among the latest Silicon Valley startups Alibaba has backed.
Chinese internet giant Alibaba has invested £133m into popular app Snapchat, confirm a number of reports.
The four year old firm, the BBC writes, is valued at nearly £10bn, making it one of the world’s most valuable start-ups. The service sends over 700 million snapchats daily, and the company has recently started generating revenue from ads.
The $15bn valuation puts the business in a league with taxi service Uber and Xiaomi, the Chinese smartphone maker. Alibaba has invested in a range of start-ups in China, and when the deal goes through, Snapchat would be among the latest Silicon Valley startups Alibaba has backed. Over the past few years it has invested in car sharing service Lyft and messaging app Tango.
More about:
Customers decide fast, influenced by only 2.5 touchpoints – globally! Make sure your brand shines in those critical moments. Read More...
View resourceThe Merkle B2B 2023 Superpowers Index outlines what drives competitive advantage within the business culture and subcultures that are critical to succ...
View resourceMaking forecasts and predictions in such a rapidly changing marketing ecosystem is a challenge. Yet, as concerns grow around a looming recession and b...
View resourceGenerative AI is rapidly becoming an integral part of marketing, offering the ability to create new content, automate decisions, and derive insights f...
View articleIt doesn’t kill us – it makes us stronger Read More...
View articleAccording to a study by Fospha, Meta is the largest and only channel that can provide the necessary scale for most brands Read More...
View articleIoT technology is changing online marketing, but legal and market forces are making matters complex Read More...
View articleDespite being tanked by the pandemic and testing positive, just a few weeks later my business had one of the strongest financial months of my career. ...
View articleThe pandemic threatened the core of Humanscale’s business model. Here’s how they used DAM technology to target an entirely new market in just two week...
View articleWhat radical changes should advertisers expect in a post-COVID world that is technology-led and rapidly changing? And how should they best prepare the...
View articleVal Vacante highlights the epic growth in contactless payments and how app-free experiences are the ultimate helper for retailers and shoppers Read Mo...
View article
Leave a Reply
You must be logged in to post a comment.