Snapchat Turns Down $3 Billion Offer From Facebook


Snapchat has taken the teenage and college social scene by storm since last year, when it became the standard way to share pictures and videos with friends. Any dumb or silly pictures shared would be automatically cleared within seconds, for a sense of privacy and mischief. Found installed on almost any smartphone, it was no surprise that this company, founded by a group of Stanford undergrads, was approached by Facebook. What surprised everyone was the offer of $3 billion dollars. Facebook recently has been losing its teenage users and this may be a sign of desperation. The social media site, which has also acquired Instagram, is without a doubt targeting the young adult demographic again with this attempt.

However, for a company that does not really have any sort of consistent revenue stream, Snapchat's price tag is excessive. Even more surprising, Snapchat actually rejected this offer. Perhaps they believed there would be an even greater offer on the horizon, or perhaps they took this simply as a marketing opportunity. Nevertheless, a free app that people use to take brief goofy pictures, without a legitimately quantifiable business, is definitely not worth the offered price. Snapchat's golden opportunity, like its photos, may have just flashed by without any hint of return.

-Jesse Chai