Alibaba invests in Snapchat which is blocked in China
Chinese internet giant Alibaba has invested approximately $200m (£133m) in a stake in messaging application Snapchat, the BBC understands.
That values the four-year-old firm at nearly $15bn making it one of the world's most valuable start-ups.
Snapchat says its users send 700 million snaps daily and recently started generating revenue from advertising.
But the service is blocked in China. BBC News looks at why Alibaba might have invested.
Video produced by Sara Barman
12 Mar 2015