Despite the sum paling in comparison to the $10bn valuation popularly associated with the social tool, it could be enough to "give it access to the messaging phenomenon and help Yahoo become more relevant to young consumers”, suggest reports.
Search giant Yahoo is currently in talks to make an investment in the popular perishable photo sharing app Snapchat, it is rumoured.
Yahoo is poised to reinvest a modest sum of the $5bn of capital gained through the sell-off of a stake it held in Chinese ecommerce giant Alibaba, according to reports.
It is rumoured (via both the New York Times and Wall Street Journal) that Yahoo will invest £20m into the tech start-up.
The NYT reports that despite the sum paling into comparison to the $10bn valuation popularly associated with the social tool “it could be enough to “give it access to the messaging phenomenon and help Yahoo become more relevant to young consumers”.
Both Snapchat and Yahoo have declined to comment.
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