Kleiner Perkins $20M investment values Snapchat at nearly $10B: DJ, citing sources

Entrance to Snapchat's headquarters in Venice, Calif.
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Kleiner Perkins said it would invest up to $20 million in social messaging app Snapchat, valuing the company at nearly $10 billion, Dow Jones reported Tuesday, citing sources.

According to the report, Snapchat said it now has 100 million monthly active users, nearly half that of Twitter.

Snapchat, a smartphone app that allows users to share self-destructing images, has become popular among teenagers in the U.S. and its currently one of Apple iTunes' top 10 free apps.

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