Snapchat refused Facebook’s $3 billion dollar offer

{Image via Wikipedia}

{Image via Wikipedia}

On Nov. 13, Snapchat, the ever-popular photo sharing app was offered $3 billion dollars from Facebook. Yeah, you read that right—$3 BILLION dollars! Founders Evan Spiegel (23) and Bobby Murphy (25) started Snapchat in 2011 and their business has been booming ever since (NYT). The former Stanford fraternity brothers’ app lets users send pictures and videos to their friends that disappear after they’ve been opened.


Recently, the app’s success has been getting mass attention from investors and other bigger companies, like Facebook. Facebook bought Instagram back in 2012 for $1 billion. According to , Facebook initially reached out to Snapchat and made them an offer of more than $1 billion. After Snapchat didn’t accept the offer, Facebook again tried a cash-out deal for around $3 billion. According to the Huffington Post, investors as well as Spiegel and Murphy believe that the app is worth $4 billion. If Facebook did indeed buyout Snapchat, this would be Facebook’s biggest venture since Instagram.


As we’ve seen before, there are plenty of startups that take off, like Twitter and Instagram. While Snapchat continues to grow, so does its features. Recently, Snapchat added the “My Story” feature that allows you to have videos or photos shared with all of your friends that can be viewed for up to 24 hours (Snapchat). You can also view who has seen your “My Story” as well.


With these features added to Snapchat, the user numbers keep growing. According to The Wall Street Journal, the number of “snaps” per day went from 200 million in June to 350 million this past September.


What do you think? What kind of changes could Facebook bring to Snapchat?



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