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Snapchat may have rejected a $4 billion offer from Google

Posted: , by Michael H.

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Snapchat may have rejected a $4 billion offer from Google
We really should have expected this story to pop up eventually, because anything Facebook can do, Google can pay even more because the company is insanely rich. Maybe that's not the exact phrasing of that saying. Anyway, we recently heard that Facebook had offered Snapchat $3 billion in cash to purchase the company, and that Snapchat had rejected that as well as another possible deal from a Chinese company worth $4 billion.

We also heard that CEO and co-founder Evan Spiegel has no plans to sell the company for at least a year, because he believes that there is still growth potential both in the service and in the valuation it will receive from interested bidders. Apparently, that is why Spiegel rejected all offers including a rumored one from Google that was reportedly worth $4 billion. 

The unconfirmed story goes that around the same time as the Facebook offer was on the table, Spiegel approached Google for "strategic investment" in Snapchat. But, Google didn't want to strategically invest, it wanted to purchase the company outright. Google had planned to keep the app as a standalone product if the purchase had gone through, although there would always be potential for integration, just as it has done with Waze.

Time will have to tell if Spiegel is making the right move, but given that Snapchat's valuation has gone from about $800 million in June to around $4 billion today, it sounds like he's making the right choice.

19 Comments
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posted on 15 Nov 2013, 07:34 13

1. Finalflash (Posts: 1143; Member since: 23 Jul 2013)


LOL, this thing has gotten valuations as much as half of what MS paid for Nokia's testicles and it hasn't even monetized yet. This guy is either very greedy or MS just made out like the biggest bandit of this millennium.

posted on 15 Nov 2013, 07:48 2

2. grahaman27 (Posts: 239; Member since: 05 Apr 2013)


Fake! Look at the sources, they are calling it a rumor

PA - put that in your title!

posted on 15 Nov 2013, 07:53 3

3. terabyteRouser (Posts: 407; Member since: 18 Oct 2011)


these guys are idiots to turn down $3 billion for their company whose value is very suspect

posted on 15 Nov 2013, 07:57 3

4. Gemmol (Posts: 447; Member since: 09 Nov 2011)


they asking for too much, if I was these big companies, I will wait till the fad over and pay 5 million, then wait a while, bring it out like an Apple feature like its something newly created

posted on 15 Nov 2013, 08:24

5. androiphone20 (Posts: 1126; Member since: 10 Jul 2013)


OUCH!

posted on 15 Nov 2013, 08:27

6. bucky (Posts: 1222; Member since: 30 Sep 2009)


I think at 4 billion I would probably call it a day with work no matter how much I love the company.

posted on 15 Nov 2013, 08:32

7. androiphone20 (Posts: 1126; Member since: 10 Jul 2013)


Maybe we should let this company make a name for itself

posted on 15 Nov 2013, 09:55 1

12. protozeloz (Posts: 5328; Member since: 16 Sep 2010)


No if you have dedication on sexting... Honestly who really really really really uses snapchat to send goofy pictures after they turn 13?

posted on 15 Nov 2013, 19:06

17. evarod48 (Posts: 130; Member since: 30 Oct 2012)


almost everyone I know.

posted on 15 Nov 2013, 23:10

18. protozeloz (Posts: 5328; Member since: 16 Sep 2010)


Gawd i live in a city of perverts

posted on 15 Nov 2013, 08:52

8. Cyberchum (Posts: 202; Member since: 24 Oct 2012)


That's an insane amount of money......it's crazy.

posted on 15 Nov 2013, 09:10

9. harvardale (Posts: 13; Member since: 22 Jul 2011)


I doubt it's true. It could be coming from Snapchat in an attempt to get someone to buy them out for a lot more than they are worth.

If it is true, I smell another Groupon coming on. They will never get another offer that high. I would accept in a heartbeat.

posted on 15 Nov 2013, 09:12

10. xtroid2k (Posts: 315; Member since: 11 Jan 2010)


Maybe the CEO knows something we don't. I mean he started a company that has gained alot if value with out making money. However snapchat offers something of value in a form of a service. What really is the value of sending messages and automatically erasing for secret purposes. Well that's why he's CEO and I'm posting about it.

posted on 15 Nov 2013, 09:21 1

11. HASHTAG (unregistered)


If true, I can see the CEO regretting not taking either of the offers in the future. People are going to get tired of Snapchat eventually. Look what happened to Draw Something after it was purchased by Zynga? The popularity dropped which caused a lost of value. He'd been better off selling now before it loses popularity; better letting it suffer in someone else's hands.

posted on 15 Nov 2013, 09:57

13. Davidparker (Posts: 10; Member since: 04 Nov 2013)


omg that's too much !! That's crazy !!

posted on 15 Nov 2013, 11:43

14. taz89 (Posts: 1948; Member since: 03 May 2011)


A very misleading title. The title suggests as if it's official that Google offered X amount when in fact it is not in any way comfirmed at all. Title story's on pa seems to be getting worse and worse

posted on 15 Nov 2013, 13:39

15. LiyanaBG (Posts: 288; Member since: 07 Nov 2013)


google should buy it

posted on 15 Nov 2013, 14:25 1

16. Obama (Posts: 13; Member since: 10 Oct 2013)


What if NSA already bought it?

posted on 15 Nov 2013, 23:51

19. nsrsindia (Posts: 11; Member since: 15 Oct 2013)


NIce Move snapchat. Only chat safe for cryptography not crackable. Great move. You will get whatever money you want for such tech.
People will not get even why facebook offer 3 billion.
.
Ask google : Snapchat will change the way internet works (move from bits to data KBs).
.
just don't sell it. You are doing great.

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