Chinese firm Ali baba to invest $200m in Snapchat

Ali baba plans to invest $200 million in mobile messaging app Snapchat. This app allows users to send images which will get disappear after 10seconds. Earlier Snapchat turn down Facebook $3 Billion dollar acquisition offer.Snapchat has $100 million active users but still they couldn't able turn that into enough revenue. 

Their chief strategist imran khan believed to be played important role in sealing this deal with Ali baba which allows them to expand their services. 

Source: Forbes

Share on Google Plus

About Lets Think

An Electronics Engineer by education, a part-time blogger by passion. He loves everything about technology, hence he writes about it. Interest includes Technology, Startups and Mobile Applications.