Nonetheless, Bloomberg reports instantly-disappearing-image communications app Snapchat is courting investors to the tune of many multiples over the crazy amount Facebook already offered a few months back.
The Snapchat mobile messaging application is being looked at by Alibaba Group Holdings, the report says. “If the funding is completed, Snapchat would join a small group of technology startups that are valued in the eleven-digit range.” (After Airbnb, Dropbox, and Uber.)
Bloomberg adds that “Snapchat’s popularity has continued to grow, with people sending more than 700 million disappearing “snaps” a day and more than 500 million stories viewed daily.”
Facebook tried to buy Snapchat for $3 billion last year. Alibaba is China’s largest e-commerce company.
Meanwhile, the company Facebook did buy is launching another Snapchat competitor: Instagram’s bolt is a one-touch photo and video messaging app.
It’s launching in Singapore, South Africa and New Zealand, TechCrunch reports, adding, “Bolt is barging into the already extremely crowded photo and video sharing space. Beyond Snapchat, Taptalk, Mirage, Twitter, Vine, and a slew of international messaging apps, Facebook itself already offers News Feed, Messenger, Groups, Paper, Slingshot, WhatsApp, Instagram’s feed, and Instagram Direct.”