Google's investment arm has quietly invested in Snapchat

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evan spiegel

AP Photo/Jae C. Hong

Alphabet's investment arm, Google Capital, has quietly made an investment in Snapchat parent company, Snap Inc.

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The investment was only revealed after Google Capital rebranded itself to CapitalG on Friday and added the Snapchat logo to its portfolio page. Business Insider confirmed that it is a portfolio company of the growth equity arm of Alphabet. Snap Inc did not immediately respond to comment.

The two companies have had a cozy relationship. In 2013, it was rumored that Google once tried to buy Snapchat for $4 billion after it turned down a Facebook acquisition. To this day, Snapchat remains one of the largest users of Google's cloud infrastructure, although it's recently brought a data center specialist in house.

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Before it renamed itself to Snap Inc in September, Snapchat had most recently raised $1.81 billion in a May 2016 round of funding. That funding round valued the company around $20 billion.

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