Bloomberg is reporting that Alibaba, the Chinese Internet giant, is considering buying out Snapchat for $10 billion.
The Snapchat app, which allows users to send messages and photos that then disappear after they're received, achieved fame for turning down a buyout bid from Facebook last year. It also has a reported 700 million messages, or "snaps," every day.
If the stories are true, it would put Snapchat in rare company: very few tech companies are worth more than a billion dollars, and even fewer can command $10 billion in valuation.
Uber, Airbnb and Snapchat.