Prominent venture capital firms Andreessen Horowitz and Sequoia Capital are expected to take part in the funding round.
Earlier this year, the mobile payment-processing company valued itself at a mere $5 billion.
The venture-capital investment firm has made an investment of up to $20 million in the ephemeral message service, according to The Wall Street Journal.
The video game maker has struck an agreement to receive a large investment and publish 10 games in China.
Raising $150 million in the run-up to its delayed IPO, the cloud storage service amends its SEC filing to reflect a jump in revenue.
At the Recode Conference, Travis Kalanick said Uber is raising money, but played coy when asked if he would sell to Google.
The 4-year-old on-demand car service's valuation would nearly triple if it were to secure the new funding.
New funds come eight months after the 4-year-old social-sharing startup closed a $225 million round.
The company could raise as much as $400 million to $500 million in a round led by equity firm TPG, according to the report.
The latest round of funding values the startup at $10 billion, according to The Wall Street Journal.