Snapchat reportedly turned down $3B offer from Facebook

Snapchatlarge

If Facebook can’t win the hearts of teens, they’ll try to buy their way in. According to The Wall Street Journal, popular time-bomb messaging service Snapchat reportedly refused a $3 billion offer from Facebook. Reports say that Snapchat founder and CEO Evan Spiegel doesn’t want to sell or accept an investor until at least early next year, when the userbase will be bigger.

Facebook had tried to emulate Snapchat with an iPhone app that pretty much flopped — Poke. More younger users flocked to Snapchat because many of these people don’t want messages to last longer than a few seconds, keeping messaging truly private. Where Facebook wants to connect the world, Snapchat’s use is best fit for intimate, private 1-on-1 conversations.

According to The Wall Street Journal, analysts have valued Snapchat as high as $4 billion.

Originally, the report shows, Facebook attempted to purchase Snapchat for $1 billion (roughly the offer for Instagram), then upped the offer to $3 billion.

Facebook Marketing

Mediabistro Event

Facebook Marketing

Starting January 13, work with the group marketing manager of social media at Microsoft/BingAds to grow your business on Facebook! In this course, you’ll learn how to set up your company page, understand Facebook best practices, and execute a monthly content strategy. Register now!

 

Leave a Reply

Get the latest news in your inbox
interested in advertising with inside facebook?

Social Media Jobs
of the Day

Business Technology Editor

McMurry/TMG
Washington, DC

Assistant Editor

8 Inc.
New York, NY

Editorial Manager

Air Age Media
Wilton, CT

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us