Snapchat, Snapchat news, Snapchat logo

Snapchat had reportedly been in funding talks with Alibaba in a deal valued at $10 billion.

The conversations have ended and “haven’t been active for some time,” according to Bloomberg and their all-important “other people familiar with the matter.”

Snapchat will still be looking to raise some funding

Still, Snapchat will be raising some funding. In a corporate filing in Delaware on Aug. 4, Snapchat authorized 17.4 million shares of new preferred stock, an increase from the 1.2 million shares a month earlier. The shares are valued at a fraction of a cent, according to the filing.

Snapchat turned down a $3 billion acquisition offer from Facebook last year as it looked to grow its user base and therefore its overall worth to investors and possible suitors for an acquisition. Facebook later went on to acquire WhatsApp Messenger.

Snapchat is available on iOS and Android with third-party solutions such as 6Snap available on Windows Phone and Snap2Chat available on BlackBerry 10.

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By Josh Robert Nay

Josh Robert Nay is the founder and Editor-in-Chief of TruTower. He has worked in the telecommunications industry since 2003 and specializes in GSM based technology. He also uses (too many) VoIP apps and is a long-time user of BlackBerry, Android, and Windows Phone. He adores anything having to do with space exploration and writing. In addition to the links below, he can be found on LinkedIn and can also be found on his website at