Snapchat may have rejected a $4 billion offer from Google
posted by Michael H. / Nov 15, 2013, 7:29 AM
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.We also heard that CEO and co-founder Evan Spiegel has
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.
Posts: 4062; Member since: Jul 23, 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 Nov 15, 2013, 7:34 AM 13
Posts: 3771; Member since: Sep 30, 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 Nov 15, 2013, 8:27 AM 0
Posts: 5396; Member since: Sep 16, 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 Nov 15, 2013, 9:55 AM 1
Posts: 51; Member since: Jul 22, 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 Nov 15, 2013, 9:10 AM 0
Posts: 601; Member since: Jan 11, 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 Nov 15, 2013, 9:12 AM 0
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 Nov 15, 2013, 9:21 AM 1
Posts: 12; Member since: Oct 15, 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.
posted on Nov 15, 2013, 11:51 PM 0
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