Kleiner Perkins Thinking Junk-Pic Messaging Service Worth A Reasonable $10 Billion - Dealbreaker

Kleiner Perkins Thinking Junk-Pic Messaging Service Worth A Reasonable $10 Billion

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Kleiner Perkins said it would invest up to $20 million in social messaging app Snapchat, valuing the company at nearly $10 billion, Dow Jones reported Tuesday, citing sources. According to the report, Snapchat said it now has 100 million monthly active users, nearly half that of Twitter. Snapchat, a smartphone app that allows users to share self-destructing images, has become popular among teenagers in the U.S. and its currently one of Apple iTunes' top 10 free apps. [CNBC]

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