There is no doubt that Snapchat is one of the most talked about messaging services in Silicon Valley.

Having shrugged off an attempted $3bn (R32bn) attempted acquisition by Facebook last year, Snapchat has seen a further increase in its user base and popularity which has increased the value of the company as a whole. (That’s according to the Wall Street Journal who spoke to people who have seen the internal measurement metrics at Snapchat which are not shared publicly.)

According to sources, Snapchat now has over 100 million monthly active users (MAU), with roughly two-thirds of those users logging into and using the service every singly day. It seems that privacy concerns raised about the service have done little to lessen its growth rate over the last few months.

To put that number into perspective Facebook, the world’s largest social network, has 829 million daily active users and 1.32 billion MAU. WhatsApp, which Facebook bought for $19 billion earlier this year has over 600 million MAU and Instagram, which Facebook also purchased this time for $1bn, has over 200 million MAU.

While Snapchat’s rapid growth is set to eclipse the likes of Instagram, should it continue on its current growth trend, the latest news on its valuation places it in rarefied territory that have some people wondering just what investors see in a company that is as of yet to make a single cent.

Once again, from the WSJ’s sources, there is news that Snapchat was recently valued at $10bn (R107bn) after its latest round of investment from Kleiner Perkins Caufield & Byers.

[Source – The Wall Street Journal]