Google said to be investing in the messaging tool out to crush Bloomberg

Google is investing in privately-held communications startup Symphony at a valuation of about $650 million, according to The Wall Street Journal.

That would have Google joining a cadre of Wall Street banks including Goldman Sachs, Jefferies and Morgan Stanley in backing the newly-developed tool for traders that is out to dethrone Bloomberg LP's chat tool.

Business Insider reached out to Google and Symphony; neither could immediately comment for the record.

While Google's investment in Symphony, if true, would mark a new turn in the startup's development, it also appears to be at a valuation lower than what the company sought.

In July, The Wall Street Journal reported on the startup's fundraising, saying it was seeking a valuation of $1 billion.

Among the other investors in Symphony: BofA Merrill Lynch, BNY Mellon, BlackRock, Citadel, Citi, Credit Suisse, Deutsche Bank, JPMorgan, Maverick, Nomura and Wells Fargo.