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Asked about the reports, Mr. Brufau said, "I can't tell you whether it is Sinopec or another company, but we have had expressions of interest at a valuation close to $18 billion".
The new round gives the company a valuation close to $1 billion, according to Skonnard.
A price range for Snap's IPO leaked late last night, which could settle its valuation close to its previous financing round.
When Josh spoke to the startup back in June, it had just closed a $34 million series C financing round, which put its valuation close to $500 million and put it on the path to an eventual IPO.
Dropbox recently completed $250 million of funding at a valuation close to $10 billion according to the Wall Street Journal.
SAN FRANCISCO (Reuters) - Venture capital firm Kleiner Perkins Caufield & Byer has agreed to invest in fast-growing messaging startup Snapchat at a valuation close to $10 billion, the Wall Street Journal reported on Tuesday, citing people with knowledge of the matter.
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Becker said buying a software company should cost more like a multiple of five times revenue, which would imply a valuation closer to $4.3 billion based on the company's 2010 revenue.
"A lot of investors have been hiding out" in sectors like utilities and telecommunications that have reputations for paying big dividends, and that has created valuations close to multiyear highs, Mr. Buckingham said.
Independent American refinery companies fetch valuations closer to 13 times while exploration and production firms command a punchier multiple of 20.
However, it's last private valuation was close to $1 billion, the company priced under that mark, and has since moved past the $1 billion valuation threshold into unicorn-land.
With a stock-market valuation of close to three quarters of a trillion dollars, Apple is the world's most valuable company.
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