Alibaba investing in Snapchat BBC NEWS
The app is
a photo messaging application that was developed by Evan Spiegel, Reggie Brown
and Bobby Murphy. This app lets users make pictures, record videos, add text
and drawings and than send them to a controlled list of recipients. It allows users to send text and picture messages, which disappear in 10 seconds.
Its initial
release was in September 2011 and is available in many different languages,
which runs by its stable release on 8.1.1.
It has recently introduced advertising on its platform to start generating revenue, through that the firm says that they send 700 million snaps daily all around the world from different users.
The Chinese
firm recently has provided the company with approximately $200 million in a stake.
The firm looks forward to work with the app because the firm wants to have a higher range of start-ups in the USA, because the Chinese firm has
already given money to many apps around the world, but its portfolio in the USA
is relatively small. Through this they make a big step towards the USA market,
through brand awareness of Snapchat.
Its rare
for a Chinese internet giant as Alibaba to give money to an app, that is blocked in the country China, where the Company is
located.
For the firm to give money to the company, is just a aim and objective to have global reach, to more customers outside the Asian border. The Company hopes for brand recognition of Snapchat as well as on their local customer. The company wants to make there $15 billion business, which is one oft he world ´s most valuable start-ups, to make a better profit and revenue until the year ends.
