"Dumb move." "Zero sense." "Remarkably stupid."
That's just a sample of the reaction last year to news that disappearing-message app Snapchat had turned down a whopping $3 billion buyout offer from Facebook. But with news from Bloomberg this week that Snapchat is in funding talks with China's Alibaba valuing the company at $10 billion, it's safe to say many observers are reconsidering Snapchat's worth.
Snapchat and Alibaba declined to comment on the reported funding talks. But the question about Snapchat has always been whether a product that seems so ephemeral has the potential to justify such a massive long-term investment.