{"id":53835,"date":"2014-10-06T08:31:49","date_gmt":"2014-10-06T08:31:49","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=53835"},"modified":"2014-10-06T08:31:49","modified_gmt":"2014-10-06T08:31:49","slug":"snapchat-yahoo-set-to-invest-millions","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=53835","title":{"rendered":"Snapchat: Yahoo ‘set to invest millions’"},"content":{"rendered":"

Yahoo is close to investing millions of dollars in mobile messaging service Snapchat, which may value the start-up at about $10bn (\u00a36.2bn), reports say.<\/p>\n

Snapchat allows users to send images and videos that “disappear” seconds after being viewed.<\/p>\n

The company is said to have rejected a $3bn takeover offer from Facebook and other tech behemoths, including China’s Alibaba and Tencent groups in recent years.<\/p>\n

Yahoo and Snapchat refused to comment.<\/p>\n

According to the Wall Street Journal, Yahoo may invest about $20m in Snapchat’s next funding round after cashing in from its stake in e-commerce giant Alibaba.<\/p>\n

In 2005, Yahoo co-founder Jerry Yang bought a 40% stake in Alibaba for about $1bn. It sold part of that stake during last month’s initial public offering, earning more than $9bn before taxes.<\/p>\n

Online shopping<\/p>\n

Yahoo has been on an acquisition spree under chief executive Marissa Mayer, who has been looking to move it away from its reliance on search and make it more of a content provider.<\/p>\n

Since joining in 2012, Ms Mayer has overseen more than two dozen deals aimed at turning the company around.<\/p>\n

However, she has recently come under pressure from activist investor Starboard Value. The firm has been calling on Yahoo to halt its spending and consider combining with online rival AOL.<\/p>\n

\"Yahoo<\/div>\n
Yahoo CEO Marissa Mayer has overseen more than two dozen deals since joining in July 2012<\/div>\n

Last week, it bought mobile-chat application MessageMe, which allows users to ping one or many friends on their smartphone using emoticons and stickers.<\/p>\n

Ms Mayer also acquired blogging service Tumblr for about $1bn last year.<\/p>\n

MessageMe has said it will shut down in November, so that its eight-person team can work on mobile products for Yahoo.<\/p>\n

Snapchat was created by a group of students at Stanford University in 2011 and quickly became popular among teens.<\/p>\n

Social network Facebook\u00a0is now testing a similar feature<\/a>\u00a0that allows users to schedule the automatic deletion of their posts ranging from one hour to seven days.<\/p>\n

Snapchat, which has little to no revenue, reportedly rejected Facebook’s $3bn offer last year for being too low.<\/p>\n

However, a tech boom in Silicon Valley has seen several privately owned start-ups receive eleven-digit valuations, including house-sharing company Airbnb and private car-booking application Uber.<\/p>\n

 <\/p>\n

Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"

Yahoo is close to investing millions of dollars in mobile messaging service Snapchat, which may value the start-up at about $10bn (\u00a36.2bn), reports say. Snapchat allows users to send images and videos that “disappear” seconds after being viewed. The company is said to have rejected a $3bn takeover offer from Facebook and other tech behemoths, […]<\/p>\n","protected":false},"author":14,"featured_media":53836,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[18],"class_list":["post-53835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-dr-akwasi-osei"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/53835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53835"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/53835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/53836"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}