Snapchat Thinks They’re Worth More Than $3 Billion; Turns Down Facebook Offer…

Snapchat has reportedly turned down a $3 billion offer from Facebook.

The Wall Street Journal reports that Facebook proposed an all-cash acquisition deal.  They also say Facebook had previously offered Snapchat $1 billion.

Snapchat is also reportedly receiving other offers.  Chinese investment holding company Tencent Holdings Limited recently proposed an investment injection that would value Snapchat at around $4 billion; other overtures remain unknown.

Sources say Snapchat is waiting until at least next year to make any deals, as they are hoping to grow and increase their valuation. Are self-destructing photos worth that much, or will this go down as the worst business decision ever?

5 Responses

  1. jw

    I would sell, it wouldn’t take much for apple, etc. to just program a “sensitive sms” feature into everyone’s text messaging, making snapchat obsolete.

  2. Georg

    Zucki knows that young people are fleeing Facebook, in five years he may well rename it to “Geezerbook”.
    And for Zucki, $3B are nothing. I guess the Snapchat people know this.

  3. TuneHunter

    Good move!
    They are brilliant blow of fresh air in current East German environment propelled by many governments!
    I would estimate that at least half a million out of almost three million Americans in jail are victims of internet Stasi!

  4. Paul Resnikoff

    You guys should check out this amazing company, it’s called… Pointcast. (And if you get that reference, I love you).