According to The Wall Street Journal, Snapchat headquarters in Venice, Calif., Facebook made Snapchat, the maker of an app for exchanging ephemeral messages, an offer worth $three billion in cash. Snapchat, actual to its form, discarded the deal simply because it handles 350 million messages it handles day by day. More than three times the worth of Fib’s hit bid for Integram, the rebuffed offer comes as a 2-12 months 12-month-old SnapChat explores a big funding round at around a $4 billion valuation.
Though the Venice, Calif.-based firm doesn’t earn cash or disclose the exact size of its base, Snapchat has managed to capture the attention of tweens and teens, a crowd that’s tiring of fib. The app is also estimated for use by 9 percent of adult mobile phone owners in the US, in line with Pew research.
A $3 billion offer for earnings, many fewer app guidelines at Facebook’s desperation to purchase the love of the internet’s youngest users. Before now, the social community bid more than $1 billion for the simple ship-it-and-overlook-it utility, consistent with The Wall Street Journal. Snapchat’s refusal, incredible although it could be, suggests that the young firm is getting exactly the phrases it wants because it considers taking hundreds of thousands and thousands of dollars in financing from investors.
Snapchat co-founder and CEO Evan Spiegel most likely will not imagine an acquisition or an investment until early 2014; sources informed the Journal. For his sake, it is easy to hope that disappearing messages don’t vanish from pop culture simply as quickly as they arrived. Fib declined to touch upon the rumored bid. Snapchat did not immediately respond to a request for a remark.
