TECHCRUNCH: Snapchat, one of the ten most popular instant messengers in the world, has raised $200M from Alibaba Group and Saudi Arabian investor Prince Alwaleed Bin Talal at the valuation of $19B. Alibaba’s only weakness against its traditional rival – Chinese Tencent – is the lack of a strong position in the messaging market. With this investment (as well as the investment of $215M in Tango messenger last year) Alibaba is trying to strengthen its position in the market by diversifying assets and insuring itself against the negative effects of the growing popularity of instant messengers as a means for communication, shopping, financial transactions, etc.
TECHINASIA: Cloud-based billing platform ChargeBee has just announced its series B funding round of US$5 million led by Tiger Global. Its existing investor Accel Partners participated in the latest round. ChargeBee provides its clients with an easy plug-and-play interface to accept payments through a choice of 30 gateways, such as Authorize.Net, Braintree, Stripe, PayPal, eWay, Pin Payments, AmazonPayments, and WorldPay.
TECHCRUNCH: PayPal, the payments service with 162 million users preparing to separate from e-commerce giant eBay later this year, is announcing an acquisition today to help build out its mobile business targeting physical merchants, and sharpen its focus in competition with other tech payment hopefuls like Apple and Google. It is buying Paydiant, a startup out of Boston that makes mobile wallet technology. That technology, in turn, powers payment apps for large business like Subway, Harris Teeter supermarkets, Capital One bank, and — perhaps most notably — MCX, a merchant-owned network that is developing a payment app called CurrentC.