Mar 15, 2015

Why ALIBABA is Investing in SNAPCHAT ?

Why ALIBABA is Investing in SNAPCHAT ?

Snapchat Inc. had pulled in a $200-million investment from Chinese technology superpower Alibaba Group Holding Ltd.

Snapchat = App to share Pics  [screen-grabs a photo ]
Alibaba   = China's Amazon+Ebay+Flipkart

REASONS WHY ALIBABA FUNDED SNAPCHAT
1. SNAPACHAT is the top 10 most downloaded apps in dozens of countries
2. As an e-commerce site, ALIBABA want to have access to places where people live their online lives
3. Alibaba longterm strategy to expand into American social media and internet-hosted commerce

SNAPCHAT - STORY IN SHORT
Idea: An app for sending photos that would disappear seconds later
Startup Type: Technology
Product:  Social Media App
Valuation: $15 Billion
Employees: 200
Founders: Evan Spiegel & Bobby Murphy
Former Name: Picaboo
Active Users: 170 million users
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