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Alibaba Snapchat Investment Looks Too Rich
Alibaba announced early yesterday that it would invest $200 million in private photo messaging firm Snapchat. Estimates have the infusion of Alibaba Group Holding Ltd (NYSE: BABA) capital boosting the overall valuation of Snapchat to $15 billion.
That valuation looks unwarranted and may come back to bite Alibaba in the future.
Alibaba announced early yesterday that it would invest $200 million in private photo messaging firm Snapchat. Estimates have the infusion of Alibaba Group Holding Ltd (NYSE: BABA) capital boosting the overall valuation of Snapchat to $15 billion.
That valuation looks unwarranted and may come back to bite Alibaba in the future.