Is Snapchat really worth $10 billion?

Is Snapchat really worth $10 billion?
(Image credit: Facebook.com/Snapchat)

The Wall Street Journal has confirmed that according to the firm's latest round of funding with investors, including the venture capitalist firm Kleiner Perkins, the self-destructing photo messaging service is now valued at an eye-popping $10 billion, even in spite of it still making a far less eye-popping zero in profits.

That's a heck of a lot more than the $3 billion that Facebook's Mark Zuckerberg was willing to pay to acquire the startup headed by 24-year-old Evan Spiegel.

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John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.