The company could raise as much as $400 million to $500 million in a round led by equity firm TPG, according to the report.
Word on the street is that the send-it-and-forget-it messaging app wants to raise hundreds of millions of dollars from an Asian investor.
The latest round of funding values the startup at $10 billion, according to The Wall Street Journal.
The company's venture round will be led by DST Global, according to Recode's Kara Swisher. Other VCs, including Google Ventures and Shasta Ventures, will also join the round.
Here's another one for the Silicon Valley bubble forecasters: The file-hosting startup is looking for another $250 million at a mind-bogglingly high valuation, reports Businessweek.
After a rough start, the private social network looks to be riding a recent growth spurt to a substantial round of funding.
Despite regulatory resistance in some markets, the provider of an alternative car service raises $350 million in recent funding.
The scrapbooking site closes a whopper of a funding round and says it will focus on the product and make acquisitions.
The scrapbooking site is reportedly ready to raise more money. Whether it will do so on the lofty terms it wants remains to be seen.
A report from Fortune today suggests that a block of early employee shares currently available for sale values the company at just under $10 billion.