Kleiner to invest in Snapchat at near-$ 10 b valuation: Report

Thursday, 28 August 2014 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Venture 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. The venture-capital firm had committed to invest up to $20 million in Snapchat in May, the Journal cited one of the people as saying, without elaborating. At least one other strategic investor has committed to joining the latest round of funding, the Journal cited two of the people as saying. Neither Snapchat nor Kleiner were immediately available for comment.