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Yahoo in talks to invest in Snapchat app
Yahoo is in talks to use part of its war chest from selling down its stake in Alibaba to invest in photo messaging app Snapchat.
The start-up, which was launched in 2011 by three Stanford University students, is in the process of raising a new round of investment valuing it at around $10bn (£6bn).
Yahoo is thought to be investing around $20m as part of the fundraising, according to reports in the Wall Street Journal.
The company landed a $5bn windfall payout after selling part of its stake in Alibaba when the Chinese e-commerce giant floated the earlier this month.
An investment in Snapchat would help the ageing internet portal tap into mobile technology and step up its exposure to a younger audience.