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Snapchat funding rumors return. Could its valuation hit $10 billion?
Snapchat funding rumors return. Could its valuation hit $10 billion?

Snapchat's millions of users and the intriguing possibilities that the mobile messaging app offers advertisers have made the Los Angeles start-up an object of desire among investors. The latest rumors of who's courting Snapchat emerged Tuesday with reports saying that Kleiner Perkins Caufield & Byers, the Silicon Valley venture capital firm that's made bets in companies such as Facebook and Twitter, had agreed to take a stake in Snapchat. Investments in Los Angeles by the giants of Silicon Valley are rare, but Kleiner has been involved in local efforts such as backing a USC effort to incubate student-founded start-ups. Kleiner Perkins did not respond to a request for...

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