Alibaba ends funding round talks with Snapchat - report (translated)
Alibaba [A Li Ba Ba], the Chinese e-commerce company, has ended funding round talks with SnapChat Inc., the Pacific Palisades, California-based mobile application company, Sina.com reported, citing an unidentified source.
The source added that the talks were terminated last month prior to a Bloomberg report dated 30 July. He went on to say that Alibaba abandoned the talks possibly to avoid potential noises which may affect its IPO process, but Snapchat is in the process of a funding round and its market value is estimated to be USD 10bn.
Source Sina.com