Ephemeral messaging app Snapchat is worth $10 billion, according to sources speaking to The Wall Street Journal. Venture capital firm Kleiner Perkins Caufield & Byers supposedly committed to investing $20 million in the service back in May based off that huge valuation.
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A Russian investment firm, DST Global, also agreed to invest in Snapchat, with a slightly more modest valuation of $7 billion. Neither Kleiner nor DST have released an official statement on the new round of investment, according to the WSJ.
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For their part, the twentysomethings behind Snapchat are brushing off all the "adult world" stuff regarding valuations.
"The valuation of our business and our capital requirements are the least exciting aspects of supporting the Snapchat community," a Snapchat representative told WSJ. "We have no further comment at this time."
The Silicon Valley gossip society has been claiming that Snapchat is in talks with Microsoft about an acquisition. This is after spurning a $3 billion offer from Facebook last year (up from an earlier $1 billion bid from Mark Zuckerberg).
"Rumors about Microsoft talking to Snapchat are 100% true," writes an anonymous poster on secret sharing app Secret. "Stay tuned."
Snapchat is also in talks with media and marketing companies about finally bringing in advertising revenue, which we could see by the end of the year, according to a source speaking to WSJ. Snapchat still pulls in exactly zero revenue.
