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.