NEW YORK, Aug. 27 (UPI) -- Is an app whose content evaporates in seconds worthwhile? Apparently: Despite its ephemeral nature, Snapchat is pulling in the big bucks from investors.
Silicon Valley powerhouse venture capital firm Kleiner Perkins Caufield & Byers is reportedly making a $20 million investment into Snapchat, the disappearing photo messaging app, at a valuation of nearly $10 billion, according to a Wall Street Journal report.