By John Glenday

Self-destruct messaging service Snapchat has been valued at a whopping $10bn by venture capital firm Kleiner Perkins Caulfield & Byer, following their $20m investment in the firm.

According to the Wall Street Journal this sky high valuation elevates the fledgling service to the taxi hire service Uber and AirBnB, the rooms to let business, both of which have recently joined the $10bn plus club.

Snapchat has been fending off suitors of late, reportedly declining a $3bn offer from Facebook last year according to Reuters.

The valuation comes ahead to offer advertising via the platform and introduce a range of new services in a Read full story ›

Source: The Drum