CapitalG invests in Snapchat

CapitalG, the investment arm of Alphabet Inc (GOOGL), earlier named Google Capital has quietly revealed that it has made an investment in Snapchat by adding the network's logo to its website. The investment company is yet to make any formal announcements about the deal and according to Reuters News Agency the company was unavailable to comment. Snap Inc, chose to hire Morgan Stanley (MS) and Goldman Sachs Group Inc (GS) to lead its initial public offering Snap Inc which could value the company at $25 billion. Snapchat has gained great popularity among teenagers and the company reportedly rejected an offer by Facebook in 2013 that would have put the company's value at an estimated $3 billion.

 

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