Snapchat Rejected $3 Billion Buyout Offer from Facebook

68 replies
Hi Warriors,

I saw this news, Snapchat Rejected $3 Billion Buyout Offer from Facebook - DailyFinance and I find it really interesting.

I am not sure what are his reasons for declining the $3 Billion offer.

What are your thoughts on this.
#billion #buyout #facebook #offer #rejected #snapchat
  • Profile picture of the author saladflorida
    wow, thats alot of cash, i would take it if it were my company, for 50% of the shares :v
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    • Profile picture of the author Jeff Schuman
      They are hoping to get more early next year and they probably will.

      It is interesting how many companies, including Google and Yahoo, tried to buy Facebook. Microsoft even offered $15 Billlion for it in 2007, so Mark Zuckerberg knows how this game is played.
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  • Profile picture of the author petelta
    Facebook has been losing a ton of their teen viewers recently... Snapchat is what the kids love and have been migrating to. Facebook is trying to grab a hold of those viewers again.
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    • Profile picture of the author Jesus Perez
      Originally Posted by petelta View Post

      Facebook has been losing a ton of their teen viewers recently... Snapchat is what the kids love and have been migrating to. Facebook is trying to grab a hold of those viewers again.
      This. Kids/Teens are also flocking to personal messaging apps like WhatsApp, Kik and Instagram because their parents have infiltrated Facebook and embarrassed them to death.
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  • Profile picture of the author Kevin_Hutto
    I agree with above posts but I think that snapchat made a mistake. They should have taken the $3Billion. The kid/teen market is fickle and probably the quickest to jump to something new. Justin Bieber just launched a "selfie" app. If someone like that launched a competitor to snapchat - it would really hurt them.
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    • Profile picture of the author jwmann2
      They said they rejected the offer in hopes of getting a better one. What can you buy with 4 billion that you can't buy with 3 billion? Stupid, I know. But Snapchat has yet to yield a profit so these guys must not be in it for the money. Zuckerberg rejected billions too.
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  • Profile picture of the author brutecky
    I personally think that SnapChat was insane to deny the $3,000,000,000 offer from Facebook. It was a CASH offer, all money, no Facebook stock.

    Just consider this:

    Snap Chat still has NO monitization plan.
    Snap Chat is NOT a public company, that money would have gone right to the creators
    Snap Chat IS mostly used by teens who are fickle and will jump on the next bandwagon quickly forgetting all about this in a year or two at most.

    Sure they might get more money next year, but then again they might also not. $3 billion is a lot of money, in fact the average American will make about $3 million dollars in there entire life time. So its litterly enough money for 1000X people for life.

    There are 2 main founders / owners of Snap Chat. Divide the sale price between the two of them and they would each have had 500X what the average American will earn in there entire life time, all before they turned 30.

    Very silly to me for them to take the risk of total financial security for themselves and there family on the hope that they could get more later. Seems like a silly risk. I mean once you get to the point of "I have more money than I can spend in my life time" .. who cares about more anyway.

    Personally I think they passed on a HUGE windfall.
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    • Profile picture of the author magiclouie
      Originally Posted by brutecky View Post

      I personally think that SnapChat was insane to deny the $3,000,000,000 offer from Facebook. It was a CASH offer, all money, no Facebook stock.

      Just consider this:

      Snap Chat still has NO monitization plan.
      Snap Chat is NOT a public company, that money would have gone right to the creators
      Snap Chat IS mostly used by teens who are fickle and will jump on the next bandwagon quickly forgetting all about this in a year or two at most.

      Sure they might get more money next year, but then again they might also not. $3 billion is a lot of money, in fact the average American will make about $3 million dollars in there entire life time. So its litterly enough money for 1000X people for life.

      There are 2 main founders / owners of Snap Chat. Divide the sale price between the two of them and they would each have had 500X what the average American will earn in there entire life time, all before they turned 30.

      Very silly to me for them to take the risk of total financial security for themselves and there family on the hope that they could get more later. Seems like a silly risk. I mean once you get to the point of "I have more money than I can spend in my life time" .. who cares about more anyway.

      Personally I think they passed on a HUGE windfall.
      Can't help but agree. While reading your post I found myself nodding my head several times.

      Well, let's see what happens next.
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    • Profile picture of the author Rod Dinero
      Originally Posted by brutecky View Post

      I personally think that SnapChat was insane to deny the $3,000,000,000 offer from Facebook. It was a CASH offer, all money, no Facebook stock.

      Just consider this:

      Snap Chat still has NO monitization plan.
      Snap Chat is NOT a public company, that money would have gone right to the creators
      Snap Chat IS mostly used by teens who are fickle and will jump on the next bandwagon quickly forgetting all about this in a year or two at most.

      Sure they might get more money next year, but then again they might also not. $3 billion is a lot of money, in fact the average American will make about $3 million dollars in there entire life time. So its litterly enough money for 1000X people for life.

      There are 2 main founders / owners of Snap Chat. Divide the sale price between the two of them and they would each have had 500X what the average American will earn in there entire life time, all before they turned 30.

      Very silly to me for them to take the risk of total financial security for themselves and there family on the hope that they could get more later. Seems like a silly risk. I mean once you get to the point of "I have more money than I can spend in my life time" .. who cares about more anyway.

      Personally I think they passed on a HUGE windfall.
      Awesome post sir, and very much the same thoughts I had when I heard about this... they are f....... insane! I bet they will regret it when teens forget about them and jump on the next thing
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  • Profile picture of the author travlinguy
    He rejected it because he's looking at an offer for nearly $4 billion.
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  • Profile picture of the author onegoodman
    Well glad to see some startup out there that is not selling out. Seems that many of the big companies are trying to stay ahead of the game by buying smaller startups.

    I wonder if Snapchat rejected the offer because they looking for higher bid after they monetize it or because they just not planning to sell
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  • Profile picture of the author John Romaine
    Crazy.

    It will be worth $500,000 in 5 years.
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  • Profile picture of the author Sarevok
    Snapchat made a huge mistake... Unless they're in talks with someone else to make another offer, or want facebook to offer more money.

    It's foolish to believe your company will be worth >=$3b.

    How hard would it be for a competitor to divide the market with aggressive marketing if they can somehow legally duplicate snapchat's technology?

    It's true that their technology is idol'd by teens. But how much would it take for Zuckerburg (or anyone) to create and promote the hell out of a system similar to snapchat?

    They should have taken the money.

    Just my $.02, not looking to argue with anyone who thinks I'm incorrect.
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  • Profile picture of the author HunterWoods
    Id take that offer in a heartbeat, 3 billion for something that doesnt even make money, at least so i read
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  • Profile picture of the author Michael Franklin
    I've never heard of SnapChat....until today!

    It is amazing how these non-monetized companies receive such huge valuations....and buyout offers. I guess the lesson here is that it pays to always be generating online ideas to develop that future Twitter or SnapChat....as well as finding some good programmers to help set it up!
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    • Profile picture of the author Sharvin Exubrio
      I actually think it was pretty smart to turn down the first attempt of acquisition.

      It's a new idea. A new twist to what's common in the market.

      Plus, this publicity really raised the valuation of his company.

      Because now more people are gonna know about Snapchat.

      More people are gonna be using it.

      And Facebook has to offer more to factor in the spike in users.

      I think that's a win for Snapchat

      Posted about it earlier.

      https://www.facebook.com/photo.php?f...type=1&theater
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  • It's only crazy to decline the offer if there's not something else brewing.

    Nobody here is likely to be in receipt of all the facts.
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  • Profile picture of the author writeaway
    Hopefully, their future doesn't look like Groupon's. Groupon famously rejected Google's buyout offer, went IPO, and quickly went nowhere.
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  • Profile picture of the author JohnnyNight
    I would be surprised if the entire group of people who work at snapchat would not get a percentage of the sale price rather than just the 2 founders..

    In addition, they have a lot starter money people they have to take care of..

    So 3 billion sounds like a lot but once all divided up U may only get a few million,..

    I'll take it...!!!
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  • Profile picture of the author JohnnyNight
    Don't understand though the fascination with the teen audience... bless the kids, but the easiest to acquire and the easiest to lose, plus they have no money to spend...

    I imagine the goal is to acquire the kids, like a testing ground, so the adults say "Wow, that's neat, let me join.."

    So once the adults join up U can start monetizing with advertising, and the kids will go on on the next big new thing..
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  • Profile picture of the author slanier2
    not everyone starts a business to make money. Some people really put their heart into what they are doing, and having facebook prostitute out your idea as their own may not be something you want to do.

    Even for 3 billion dollars.
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  • Profile picture of the author J Bold
    Sure it sounds good to take the money and run from our perspective.

    Of course they would have received a nice bit of change from that, probably an enormous amount. But I'm sure it would not have gone all to the two founders. Surely they have investors and venture capitalists who pumped money into this project that they would need to pay.

    In fact, perhaps they made the decision not to sell with some of their investors. Perhaps they know a bigger offer will come or they have grander plans. Money isn't everything...
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  • Profile picture of the author automationhero
    Snapchat if it positions itself correctly will be able to be an incredible channel for marketing your business. It is viewed currently as a stupid app for college/high school aged kids but will be able to be used incredibly well by businesses who think creatively and figure out how to really use it for their business
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  • Profile picture of the author Porphyrogenitus
    As spectators we can call them foolish, but the majority of their stock is owned by VC's that know when to sell.

    Also Google offered them $4B today, which they rejected as well.
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  • Profile picture of the author BlvdJeremy
    Why would you not accept that kind of money for an app like SnapChat? *facepalm*
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  • Profile picture of the author dreamtoreality
    I think it's crazy. The app doesn't even work the way it is supposed to. You can easily take a screenshot of whatever is sent.
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  • Profile picture of the author ronrule
    Originally Posted by magiclouie View Post

    Hi Warriors,

    I saw this news, Snapchat Rejected $3 Billion Buyout Offer from Facebook - DailyFinance and I find it really interesting.

    I am not sure what are his reasons for declining the $3 Billion offer.

    What are your thoughts on this.
    I don't care how much you "think" you're worth, fads come and go overnight. If you're two years old and have zero dollars in revenue, and someone offers you $3 billion to walk away, the answer should always be YES.

    To put that number into perspective ... if all you ever did was throw it in a money market account, you would earn approximately $400,000 per day in interest alone.
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  • Profile picture of the author bluefirepro
    the reason is huge userbase which share 350 million pictures in one day. Just think of the revenue this will generate with increase in usage.
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  • Profile picture of the author Stewart.ice
    [DELETED]
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    • Profile picture of the author buysellbrowse
      Originally Posted by Stewart.ice View Post

      thats a lot of money I can say ...but hey ...maybe you can start your very own Snap Chat app for a specific Niche and sell it out for a fraction of the cost

      Here is a ready made Snap Chat clone app - to start one instantly : Readymade Snapchat clone app | gentleninja.com
      As your link proves, duplicating the technology shouldn't be that hard. The valuation these guys put on Snapchat reminds me of the Facebook IPO...

      Google should have a good estimate of how much data and traffic they generate. From the Snapchat blog: "Most of Snapchat's infrastructure is hosted on Google's cloud computing service, App Engine."
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      • Profile picture of the author magiclouie
        Originally Posted by buysellbrowse View Post

        As your link proves, duplicating the technology shouldn't be that hard. The valuation these guys put on Snapchat reminds me of the Facebook IPO...

        Google should have a good estimate of how much data and traffic they generate. From the Snapchat blog: "Most of Snapchat's infrastructure is hosted on Google's cloud computing service, App Engine."
        Interesting points you have shared right there.
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  • Profile picture of the author davidbatchelor
    Is SnapChat an MLM company?
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  • Profile picture of the author Jeffery Moss
    Just how much money does SnapChat think they will earn in the next few years? We're not talking millions, this is BILLIONS and most people have not even seen a tenth of that. Very high minded of the owners to imagine Snapchat will be popular long enough to earn more than three billion dollars.
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  • Profile picture of the author Stuart Walker
    First I've heard of it is when reading this thread.

    I'm guessing if FB and Google are both bidding on it they're hoping for a price war.

    Digg entered talks with Google in 2008 about selling to them. Google offered $200m which Digg refused because they believed they'd be worth much more in years to come. Four years on Digg only sold for $500,000.
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  • Profile picture of the author PerformanceMan
    They want more money! Who can blame them?
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  • Profile picture of the author rizy
    Wow what I don't seem to figure out is what the hell does Google and Facebook see in it that makes it worth 3 or 4 billions? As far as I can comprehend this, it is a picture sending app with only about 10 million users and as far as I can comprehend all it does is put a caption on the picture. Wt the hell? I know Facebook is crazy but if Google and Chinese are taking interest in it, then I'm missing something here.

    Oh and the founder is just 23 years old. Boy o boy, he's gonna have a good life.

    Mr Founder, I would like to have a chat with you, and snap you... lol unbelievable
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  • Profile picture of the author LiuChan
    Wow, he declined a 9 figure numbers? I hope that he knows what he's doing.
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  • Profile picture of the author bonesaj
    Everyone here saying he should of taken the money and that hes an idiot...wheres your $4 Billion dollar company?

    Maybe he already has enough money and just wants to create something cool that people enjoy using instead of selling it off to companies that are just going to use it for cash gain.
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    • Profile picture of the author ronrule
      Originally Posted by bonesaj View Post

      Everyone here saying he should of taken the money and that hes an idiot...wheres your $4 Billion dollar company?

      Maybe he already has enough money and just wants to create something cool that people enjoy using instead of selling it off to companies that are just going to use it for cash gain.
      Technically, since he turned down both offers and has no revenue, he doesn't have a billion dollar company, he has a $0 company. And he's holding out because he wants more not because he's not interested in selling. He's 23 and inexperienced. The kid's a genius at building a platform and an audience, but that doesn't make him a leader.

      Here's the problem with the Snapchat fad, and why he should have taken the deal... Snapchat can't be monetized. The audience is mostly teens, one that Google has always struggled to get and Facebook is starting to lose. That's why it was an attractive acquisition to both of those companies, because Snapchat has captured the market sector Facebook and Google want.

      BUT ... it's also a fickle market sector of bandwagon jumpers. The minute businesses start using Snapchat, the primary audience will leave. The minute Snapchat starts mixing in advertising, the primary audience will leave. It can't be monetized. The company will never make as much in revenue as FB/G just offered it. That's why he should have taken the deal. Unless there's another offer on the table that the media wasn't aware of (perhaps Microsoft or Twitter offered $5-$10 billion?) But short of ALREADY having a better offer, it was pretty dumb to pass.
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  • Profile picture of the author GeorgR.
    While (at first) it seems "shocking" to refuse $3B or $4B, for Zuckerberg $3B is change. Zuckerberg knows that snapchat would offer them something which they urgently need. And I guess the snapchat kiddos know that too. So..let ZB bid $10B....
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  • Profile picture of the author BradVert2013
    Who accepts the very first offer?

    Yes, there's a possibility no other offer could come along, especially considering Snapchat has no revenue stream (yet). But I have a feeling a better offer will come along and they'll jump.
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  • Profile picture of the author illinimatic
    23 year old turning down 3B dollars.. Im jist shaking my head...
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  • Profile picture of the author Kevin Maguire
    $3000000001?
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  • Profile picture of the author DubDubDubDot
    SnapChat has had around $100 Million invested into it. So the actual founder may not have had the final say on the offer. He could have already sold 95% of the company to investors for all we know.
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    • Profile picture of the author magiclouie
      Originally Posted by DubDubDubDot View Post

      SnapChat has had around $100 Million invested into it. So the actual founder may not have had the final say on the offer. He could have already sold 95% of the company to investors for all we know.
      I see.

      I hope they are not making a bad decision on this.

      We are talking about billions here.
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    • Profile picture of the author Andre Slater
      Its called negotiation my friend, until...

      Facebook creates their own version and then Snapchat worth 100k
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  • Profile picture of the author kevin timothy
    My thoughts exactly:

    So what? Everything is relative.

    Maybe the owners of Snapchat have
    much larger larger plans for the startup
    than we thought. Then again, we only
    know what the media reports.
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  • Profile picture of the author hostclearly
    I think they must have something going on that they didn't want to sell. I am glad they didn't sell to be honest.
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  • Profile picture of the author Kevin_Hutto
    Even if they do get a bigger payday down the road that still doesn't mean that it was a smart decision to pass. Selling for 3 Billion changes lives for generations. Practically speaking there is no difference between 3 Billion and 10 Billion. But there is a huge difference between 3 Billion and $500,000. And there are several companies that passed on big offers and ended up selling for similar.
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  • Wow is right...

    It amazes me how much money is tossed around in social media related assets. I think they are insane for not taking that offer. I don't see anything special about snapchat to begin with beyond the user base, which is what they are after.

    That's a crazy amount of money.
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  • Profile picture of the author jungl
    I'm a financial/investing guy, and I spend a lot of my time on it, so I'll try to give you my speculation. Over the past year, Facebook has seen it's daily users drop, especially among younger users (think teens and college students). They are mainly migrating to services like Instagram (which Facebook already bought) and Snapchat (which Facebook is trying to buy). They see this as a huge threat (rightly) which is why they are offering such a high price for a company with questionable fundamentals like Snapchat.
    Snapchat meanwhile knows it is in the position of power in this deal (Facebook needs Snapchat to avoid becoming the next MySpace, Snapchat doesn't need more money) and can probably receive a better offer later, or just keep running the company and eventually pull in a profit.
    Hope this helped clear it up, and I'm currently working on an article for a large financial publication on the subject of this, and the threats that could potentially turn Facebook into the next Myspace.
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    • Profile picture of the author Sharvin Exubrio
      Originally Posted by jungl View Post

      I'm a financial/investing guy, and I spend a lot of my time on it, so I'll try to give you my speculation. Over the past year, Facebook has seen it's daily users drop, especially among younger users (think teens and college students). They are mainly migrating to services like Instagram (which Facebook already bought) and Snapchat (which Facebook is trying to buy). They see this as a huge threat (rightly) which is why they are offering such a high price for a company with questionable fundamentals like Snapchat.
      Snapchat meanwhile knows it is in the position of power in this deal (Facebook needs Snapchat to avoid becoming the next MySpace, Snapchat doesn't need more money) and can probably receive a better offer later, or just keep running the company and eventually pull in a profit.
      Hope this helped clear it up, and I'm currently working on an article for a large financial publication on the subject of this, and the threats that could potentially turn Facebook into the next Myspace.
      Hey jungl, as a fellow financial/investing guy, I agree
      with you generally: database recycling to prolong
      their overall relevance.

      When you're done with the article, could you PM the
      link to me? (if you're not putting it here) I'd love to
      have a read. Because I think Facebook has sunk its
      studs deep enough to not get the treatment we saw
      with Myspace.
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    • Originally Posted by jungl View Post


      (Facebook needs Snapchat to avoid becoming the next MySpace,
      That's a statement you would need to back up with metrics, a lot of them.

      Snapchat doesn't need more money) and can probably receive a better offer later, or just keep running the company and eventually pull in a profit.
      It's a huge gamble seeing as they are in the kid market which seems to have a shelf life of around 3 years max. "Probably" ... who do you feel is going to pay that kind of money for it?
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  • Profile picture of the author finne
    Well as it is right now its about google vs. facebook for the race to "win the internet'".

    So if he(and his investors) got 3 billion from fb and 4 by G he probably knows that he might be able to push it towards 5-6 billion.
    If he is financed by lets say 75% then double the price is a very big amount in relation to anything you can buy out there.
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  • In my humble opinion, it's absolutely insane to turn down a 3 billions bid for an app that A) generates no revenue whatsoever and B) that targets a very volatile (and financially challenged) audience such as teenagers.
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  • Profile picture of the author Adie
    Facebook is losing appeal to teens and losing business to people who are not making sales.
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  • Profile picture of the author WillBlanchard
    I think it's smart they rejected the first offers.They want the bidding war to ensure they get the best deal.

    WeChat has found ways to make money from their applications through virtual goods and games. You can subscribe to a Starbucks ad for notifications and receive exclusive emoji to use there. Snapchat and others just need to get more creative and give the teens things they would enjoy using.
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  • Profile picture of the author Braznyc
    "Worth $19 billion"... Nonsense!
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  • Profile picture of the author kennyd3
    Some does it not for the money. Maybe the owners think, Snapchat may one day be bigger than Facebook (I doubt). Or just holding on for a biiger cut maybe from Microsoft or Wechat. It's a mind game.
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  • Profile picture of the author Janice Sperry
    This is a two year old zombie thread kids!
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  • Profile picture of the author Duccorleone
    Snapchat is full of teens. They have no money
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