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Snapchat valued at 10 billion dollars by investors

Updated: Saturday, August 30 2014, 09:34 PM CDT
     Investors are valuing social media app "Snapchat" at about 10 billion dollars.
    The disappearing message app is not yet profitable.
    The Wall Street Journal reports venture capital firm Kleiner Perkins has invested 20 million dollars in the company.
    That follows an investment earlier this year from Russian firm DST Global, which valued Snapchat at seven billion dollars.
    Snapchat is rumored to have turned down a three billion dollar buy-out offer from Facebook.Snapchat valued at 10 billion dollars by investors

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