Snapchat’s financing talks with Alibaba end: Bloomberg

(Reuters) – Snapchat Inc's financing talks with China's Alibaba Group Holding Ltd are over, Bloomberg reported, citing people familiar with the matter. The developer of a popular app that allows users to send messages that disappear after a few seconds was reportedly in talks last week with investors, including Alibaba, for financing that could value the company at $10 billion. Discussions between the two companies have not been active for some time, Bloomberg said, citing other people familiar with the matter. Chinese e-commerce giant Alibaba, which is preparing for a September 2014 debut on the New York Stock Exchange, has left the door open to continue the funding talks after its initial public offering, Bloomberg reported.