Snapchat may have rejected a $4 billion offer from Google

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.

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19 Comments

1. Finalflash

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.

2. grahaman27

Posts: 364; Member since: Apr 05, 2013

Fake! Look at the sources, they are calling it a rumor PA - put that in your title!

3. terabyteRouser

Posts: 457; Member since: Oct 18, 2011

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

4. Gemmol

Posts: 793; Member since: Nov 09, 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

5. androiphone20

Posts: 1654; Member since: Jul 10, 2013

OUCH!

6. bucky

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.

7. androiphone20

Posts: 1654; Member since: Jul 10, 2013

Maybe we should let this company make a name for itself

12. protozeloz

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?

17. evarod48

Posts: 154; Member since: Oct 30, 2012

almost everyone I know.

18. protozeloz

Posts: 5396; Member since: Sep 16, 2010

Gawd i live in a city of perverts

8. Cyberchum

Posts: 1011; Member since: Oct 24, 2012

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

9. harvardale

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.

10. xtroid2k

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.

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.

13. Davidparker

Posts: 10; Member since: Nov 04, 2013

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

14. taz89

Posts: 2014; Member since: May 03, 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

15. LiyanaBG

Posts: 381; Member since: Nov 07, 2013

google should buy it

16. Obama

Posts: 13; Member since: Oct 10, 2013

What if NSA already bought it?

19. nsrsindia

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.

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