Back in June, the company raised $80 million in financing at a $800 million valuation. A mere five months later, Snapchat reportedly turned down $3 billion from Facebook to buy the company. The hiring of White takes away a key element in Facebook's attempt to monetize its purchase of the picture sharing social networking site. Only recently have ads started running on Instagram.
The 35 year old White says she took the job because it gives her a chance to be a major leader. At Snapchat, she will be second to co-founder Evan Spiegel. Snapchat now sends out 400 million self-destructing pictures daily, up sharply from the 150 million it sent out each day before the summer.
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