Lamarwaltersuccess Blog

December 28, 2013

“Snapchat turned down more than $3Billion from Facebook”

Filed under: Business, Inspirational, Motivational, Sucessful — lamarwalter @ 3:40 am

image

Snapchat lets users send photos that last only for moments, but investment analysts believe the social media company’s future will be long-lasting.

The young founder, CEO Evan Spiegel, 23, just turned down three billion dollars for it.Facebook reportedly offered the all-cash, multi-billon dollar acquisition deal, only to be rebuffed.Brett Larson, host of “Techbyes,” weighs in saying,  “I think what happened was he waited ten seconds and the Facebook deal went away…. No, I think he’s waiting around to see who’s going to bring the better deal.

”Larson explains, “Snapchat is this explosively popular messaging service that lets mostly teenagers communicate in short messages and photos and videos that only last for ten seconds.”“And that’s what they love about it,” Chief Business Correspondent Christine Romans adds.

“Facebook needs young people and that’s why it was a multi-billion dollar offer.”Romans explains the possible strategic reason why Spiegel refused the deal.“They must think they could get more or they’re going to do another round of funding that’s going to give the owners and the founders more of a stake if they would eventually go public, maybe they could get even more money than this.”

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: