Yahoo is reportedly planning to invest in the popular messaging app Snapchat that allows users to send messages that disappear after a few seconds after being opened.
CNET reports that the investment round would value Snapchat at 10 billion dollars, though it remains unclear as to how much Yahoo would invest.
The news of Yahoo’s investment plans come while investors anticipate Yahoo CEO Marissa Mayer’s next moves following increased scrutiny of the company over the Alibaba IPO.
Yahoo received a bonus of over 8 billion dollars for selling 6 percent of its stake in the Chinese company.
The report adds that the possible investment in Snapchat also comes as Yahoo reportedly boosts its internal efforts at building a mobile messaging service .
—ANI