Earlier today, the Wall Street Journal broke the news that Yahoo, the corporate equivalent of Remember the 90's is "close" to investing in Snapchat, the fratty harbinger of our ephemeral future, at a $10 billion valuation. A source told Valleywag the amount Yahoo is investing is only $20 million and that the deal has closed.
Evan Spiegel, the boyish cofounder and CEO of Snapchat, is dying to be taken seriously. He rejected Mark Zuckerberg, opines like Steve Jobs, and hobnobs with media titans. But Spiegel's undergrad emails—when he began his path to Snapchat—show a different Evan. Did Steve Jobs ever joke about peeing on girls?
The level of interest app-makers can command for adding new features is usually limited to a dutiful parroting of the press release on tech blogs. Maybe a mass privacy freakout, if you're lucky. (Sucks, but at least you know they care!) The bros at Snapchat, however, have lived a pretty blessed life.
Snapchat is suddenly open to some adult supervision. The company lured Emily White from Instagram, then hired lobbyists after a careless privacy breach. Today, it poached Peter Magnusson, a former engineering director for Google. Judging by his snotty response to the Wall Street Journal, Magnusson will fit right in!