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Kleiner Perkins joins string of Snapchat venture capital investors

27 Aug 2014

taking-pictures-1-402703-mKleiner Perkins Caufield & Byers has reportedly laid down a venture capital investment into mobile photo-sharing business Snapchat which values the company at $10bn.

The new funding would bring the total amount of capital raised by Snapchat to more than $140m, according to the Wall Street Journal.

The company is said to have turned down a $3bn buyout offer from Facebook earlier this year.

Earlier this summer it was reported that the social media platform was in talks to raise a funding round from Chinese e-commerce giant Alibab Group.

Prior to that, International Venture Partners led a $60m Series B round for Snapchat.

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