Snapchat Turns Down $3 Billion dollar acquisition from Facebook
According anonymous citations from the Wall Street Journal, Snapchat has recently rejected a huge acquisition from Zuckerberg’s Facebook and according to the sources, its being said that this wasn’t the first offer that Facebook had made to the company.
Facebook (this time) had made a $3 billion dollar offer to acquire Snapchat but was apparently rejected. Facebook had also made an offer earlier of $1 billion dollars to the company but it looks like Evan Spiegel, the 23 year old CEO of Snapchat and one of its co-founders wasn’t and still isn’t interested in selling it off to Mark Zuckerberg.
According to the report, Facebook representatives reached out to Snapchat to discuss the all-cash deal which would have made it Facebook’s biggest acquisition so far.
From the looks of the situation there can be two possibilities (or more if you want to look into it further), one being that Snapchat is just not interested in selling the company right now and is contented with the way its going – and its going pretty well, or the second possibility could be that the company has plans to move ahead with their project and expand it further in to the market.
I guess we’ll just have to wait and see what goes down. Will Facebook make another offer? And if so, do you think Snapchat would accept it? Let us know what you guys have to say about this.