Snapchat reportedly said no to $3 billion in cash from Facebook
0. phoneArena 13 Nov 2013, 20:11 posted on
Back in June, Snapchat closed a new round of funding that valued the company at $800 million. Just a few weeks ago, a report came out that Facebook was interested in purchasing the company and had offered over $1 billion in an acquisition deal. Now we're hearing that Facebook really really wanted to buy Snapchat and may have offered a lot more...
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1. androiphone20 (Posts: 944; Member since: 10 Jul 2013)
I remember how proud Zuckerberg at saying how Facebook declined aquisition from Yahoo and Micro$oft, say hello to Karma
7. downphoenix (Posts: 2134; Member since: 19 Jun 2010)
...except Snapchat is a fad that has no value, and the creators will be kicking themselves for not taking that $3 billion payout.
3. itsdeepak4u2000 (Posts: 1883; Member since: 03 Nov 2012)
I think Snapchat will increase further.
4. Finalflash (Posts: 883; Member since: 23 Jul 2013)
I think it'll be dead in the water by then because declining 3 billion at this stage is just greed showing. They likely need to sell it fast because with tech startups (just like in 2000) you never know what will displace you next month.
5. itsdeepak4u2000 (Posts: 1883; Member since: 03 Nov 2012)
FB is the same example, see androiphone20's comment.
6. Even4steven (Posts: 33; Member since: 03 Aug 2012)
3 billion for an app that has no revenue and they turn it down??? Just insane. And I like and use the app.. Ask the founder of Groupon how well it worked it for him not to take Google's money and go buy his own island and drink stuff out of a big coconut