Thursday06 October 2022

Snapchat turns down Facebook once again

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According to information from the Wall Street Journal, Snapchat once again rejected Facebook's bid. Although this time they offered three times higher price, it did not make any difference.

The amount in question is incredible 3 billion US dollars, while in the previous attempt was "only" a billion. One of the reasons why Snapchat is interesting is because it is mostly used by population under 20 years of age, which is precisely the demographic group in which Facebook marked decreased number of users. Snapchat in June provided an investment of $60 million, and the value of the company is estimated at $800 million. According to the latest information for the WSJ, if there is additional funding, the estimated value of the company will jump to four billion dollars.

For those who do not know, Snapchat is pretty simple applications available on iOS and Android, which lets you send messages and images with the time period duration after which they can no longer be accessed.

[Ed - Although the news that a small company like Snapchat keeps turning down Facebook there is more to the story, or at least we hope there is. As of right now it does not look like the move is motivated by greed, but by wanting to simply remain their own company. It seems ot us that Snapchat wants to maintain their identity and not be assimilated by Facebook like other companies have been. This is a very cool thing at a time when many companies are only looking to get big enough to be bought.]

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Last modified on Friday, 15 November 2013 06:41

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