Business News – Alphabet Unit finally disclosed it’s investment in the Snapchat

Business News – Alphabet Unit finally disclosed it’s investment in the Snapchat :lphabet Inc’s venture capital arm CapitalG, earlier known as Google Capital, disclosed an investment in Snapchat by adding the social networking firm’s logo to a page on its investment portfolio website.

Business News – Alphabet Unit finally disclosed it’s investment in the Snapchat

CapitalG has not made a formal announcement and it was not clear when Google made the investment.

The company was not immediately available to comment.

Snap Inc, which operates the popular messaging app Snapchat, has hired Morgan Stanley and Goldman Sachs Group Inc as lead underwriters for an initial public offering.

The banks were notified last month that they had been awarded one of most coveted and potentially lucrative IPO mandates in recent years, as the Venice, California-based company vies for a $25 billion valuation in the stock market.

Snapchat, which allow users send smartphone photos which automatically disappear after a few seconds, has proven popular among teenage users.

The company had reportedly rejected an acquisition offer from Facebook that would have valued the company at $3 billion or more in 2013.

Hope you enjoyed this article and gained information about Business News – Alphabet Unit finally disclosed it’s investment in the Snapchat. For more details stay connected with us. Also, you can put your queries in Comment Box, we will respond quickly.Don’t forget to share this article with your near dears on social media sites such as Facebook, twitter, tumblr, pinterest, digg, google plus, linkedin, stumbleupon, etc. Be Happy

Be the first to comment

Leave a Reply

Your email address will not be published.


*



*