Yahoo said to be 'in talks' to invest in Snapchat
Yahoo is reportedly in talks to make an investment in the photo and video sharing service Snapchat.
Having recently raised more than $5bn by selling its stake in the Chinese ecommerce giant Alibaba, Yahoo is now ready to reinvest a relatively modest amount of that cash into Snapchat, according to reports.
Both the New York Times and Wall Street Journal, quoting insiders, reckon Yahoo will plough around £20m into the mobile start-up.
Although Yahoo's proposed stake pales in comparison to the total $10bn valuation that has been slapped on Snapchat, it could be enough to "give it access to the messaging phenomenon and help Yahoo become more relevant to young consumers," the NYT reports.
Both Snapchat and Yahoo have declined to comment but talks are said to have gathered momentum since 'late summer'.