Alibaba Rumored to invest $200 Million In Snapchat

chinese on-line megamarket Alibaba is in negotiations to speculate $200 million in Snapchat, in step with Bloomberg.

Analyst You Na told Bloomberg that Alibaba is interested in getting into social media. however Alibaba and Snapchat recently have one thing in in style: they’re both signing deals with the entertainment industry. Alibaba invested large in entertainment ultimate 12 months, asserting partnership plans with Lionsgate Studios in July 2014 and buying a controlling stake in ChinaVision Media crew, which it right now renamed Alibaba photos. And within the first months of 2015, Snapchat has gotten into sports entertainment, tv information, and streaming video. If Alibaba does invest in Snapchat, it is for sure that you can think of that the companies might accomplice on leisure products.

when we named Alibaba No. three on our checklist of essentially the most innovative firms of 2015, we wrote of its founder Jack Ma: “the company run via CEO Jack Ma is a ways more bold: ultimate year it began targeting and remaking one of the vital usa’s most moneyed industries, from banking to entertainment…. Ma says China wants ‘nice cultural products.’ He could be the film (and finance) tycoon-in-the-making that does it.”

[via Bloomberg]