23 Yr Old Snapchat CEO Turns Down 3 Billion Offer From FB

BeezyGotSole said:
Ecook0808 said:
Have to realize his parents are worth like 500m as it stands.
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WTF LMAO these kids come from money, I don't.

Like I said if a company wants to buy my app for 1M-5M THEY CAN HAVE IT :lol:
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haha, i feel you but gotta think...you'd likely have some (knowledgeable) folk in your ear telling you if you held onto it you'd stand to make an not inconsequential multiplier (maybe 10x, 100x, even 1000x) after that it's #hardtohumblewhenyoustuntinonthejumbotron status...and then there is the loss of control over the thing you made, and you'd be likely to think more about having to watch it succeed or fail with that knowledge...it prolly ain't an easy decision bruv, i think much of the time the decision to sell or not has to do with strategy
 
tokes99 said:
haha, i feel you but gotta think...you'd likely have some (knowledgeable) folk in your ear telling you if you held onto it you'd stand to make an not inconsequential multiplier (maybe 10x, 100x, even 1000x) after that it's #hardtohumblewhenyoustuntinonthejumbotron status...and then there is the loss of control over the thing you made, and you'd be likely to think more about having to watch it succeed or fail with that knowledge...it prolly ain't an easy decision bruv, i think much of the time the decision to sell or not has to do with strategy
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That's greed, point blank. Millions of dollars is life changing so billions will change your family forever.

I'll say it again a company can have my app for 1M-5M I will feel no way about it.
Don't care if someone is telling me it's worth double. I'm letting it go, that's my exit strategy to sell my app lol.

Until the numbers are realized (actually in your account) it's all speculation. It's like the idiots who thought because their house was worth a Mill pre crash that they were millionaires. Appreciation is nothing if you don't plan on selling.
 
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From personal experience few people would do that. No one's taking 1-5M when they can get 10-50X. Not how the game goes.

I don't consider it greed either.
 
Jack and Zuck are both from upper middle class. Not like Evan, whose parents live in the Palisades as it is lol.

Would 1m really change your life that much?
 
It was 3 Billion lol how much do you need? Like I said greed.

I'm literally talking about my app, it's not worth 100Ms I wish .
Lol end up like Jack and be stuck with Twitter nah I'll pass. Let me realize these gains 1M-5M is good for my app, and move on to the next business venture.
 
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BeezyGotSole said:
tokes99 said:
haha, i feel you but gotta think...you'd likely have some (knowledgeable) folk in your ear telling you if you held onto it you'd stand to make an not inconsequential multiplier (maybe 10x, 100x, even 1000x) after that it's #hardtohumblewhenyoustuntinonthejumbotron status...and then there is the loss of control over the thing you made, and you'd be likely to think more about having to watch it succeed or fail with that knowledge...it prolly ain't an easy decision bruv, i think much of the time the decision to sell or not has to do with strategy
Click to expand...

That's greed, point blank. Millions of dollars is life changing so billions will change your family forever.

I'll say it again a company can have my app for 1M-5M I will feel no way about it.
Don't care if someone is telling me it's worth double. I'm letting it go, that's my exit strategy to sell my app lol.

Until the numbers are realized (actually in your account) it's all speculation. It's like the idiots who thought because their house was worth a Mill pre crash that they were millionaires. Appreciation is nothing if you don't plan on selling.
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The money will come, and it'll either come to you, or to the guy who fleeced you and made billions to go with their already billions of dollars. It's not greed, it's getting what you're due for the work and foresight you put into your product. Just my thoughts on the subject.
 
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I'm talking about myself and my app 1M would allow me to invest and go into other business ventures to create wealth. These kids came from money millions ain't s*** to them .
 
Noskey said:
The money will come, and it'll either come to you, or to the guy who fleeced you and made billions to go with their already billions of dollars. It's not greed, it's getting what you're due for the work and foresight you put into your product. Just my thoughts on the subject.
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.
 
BeezyGotSole said:
I'm talking about myself and my app 1M would allow me to invest and go into other business ventures to create wealth. These kids came from money millions ain't s*** to them .
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If 1M can be used to invest and go into other ventures, imagine what 500M or a billion could do. Aint gotta be all for you.
 
No way I could just sell my app for just 1M whether I came from money or not and that's not greed. It's just being smart. If your app is on the cusp of being big and it monetizes already as well might as well hold onto it for as long as possible.

Yeah you could cash out on the 1M and invest in other things but who's to say those other business ventures will even work out.

The difference between 1M to 5M ain't much but when you talking 1M buyout to 500Ms etc. you would be naive to think you wouldn't be salty that you didn't wait or didn't sell.
 
I'm not talking hypotheticals I'm talking real life lol. My app isn't worth that much yes 500M is nice, but my app isn't worth that .

Interesting to see people say 1-5M wouldn't be much to them.

I'm being realistic lol you all have no clue what my app is or does so why would I be thinking about selling it for 500M when I know it isn't worth anywhere near that. That's some made up stuff that doesn't even matter.
 
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BeezyGotSole said:
I'm not talking hypotheticals I'm talking real life lol. My app isn't worth that much yes 500M is nice, but my app isn't worth that .

Interesting to see people say 1-5M wouldn't be much to them.

I'm being realistic lol you all have no clue what my app is or does so why would I be thinking about selling it for 500M when I know it isn't worth anywhere near that. That's some made up stuff that doesn't even matter.
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Ah, I thought we were talking hypothetically. What's your app and why do you value it so low?
 
BeezyGotSole said:
I'm not talking hypotheticals I'm talking real life lol. My app isn't worth that much yes 500M is nice, but my app isn't worth that .

Interesting to see people say 1-5M wouldn't be much to them.

I'm being realistic lol you all have no clue what my app is or does so why would I be thinking about selling it for 500M when I know it isn't worth anywhere near that. That's some made up stuff that doesn't even matter.
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My bad your really talking about a real app your making or made? :lol: . I thought we were just talking hypotheticals. Hell yeah sell that thing then if it's not even worth something more lol
 
MvP07 said:
Dathbgboy said:
How much of that networth is liquid though? And if his net worth is anything like the apps valuation, then :lol: He's gon make a killing with the IPO but there's going to be a lot of people who get taken to the cleaners if they invest in the company. Every company should think, "do I have more value and more to offer than Twitter?" if the answer is no or yes but you have to convince yourself the same way Mike Tomlin convinces himself, then you should not go public.
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He did state that this is "not about the money and if it was", he stated that he "would have sold it to FB a while back". Aside from his massive stake in Snapchat, he does get paid very well..Just like any other CEO. He bought a mansion for $12mill a few months back low key. Also the Private Equity firms and others who invested the seed $ are not stupid, they do their due diligence effectively. They are not just handing cash out in a series of investments just based on speculation, the founders have to hit specific goal targets. Same thing for the Investment Banks who are involved in the IPO, the valuation does not come out of thin air. Twitter and Snapchat are different animals, why should any other start up compare themselves to Twitter? :lol:. Unless ofcourse, we are talking about a micro blogging start up. The decision to go public is not a one person decision, everyone who is involved from the founders to the equity holders decide on it. Snapchat has huge potential, from the way they deliver news that people actually click on and watch to massive trove of individuals data that they can use to monetize.
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Sounds like the same thing people said about Twitter before it went public and here we are today w/ them not really knowing how to monetize their platform and they were widely adopted fairly well by individuals and corporations.
 
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Ecook0808 said:
Jack and Zuck are both from upper middle class. Not like Evan, whose parents live in the Palisades as it is lol.

Would 1m really change your life that much?
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Upper middle class eh. Man, them boys grew up rich.
 
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Noskey said:
BeezyGotSole said:
tokes99 said:
haha, i feel you but gotta think...you'd likely have some (knowledgeable) folk in your ear telling you if you held onto it you'd stand to make an not inconsequential multiplier (maybe 10x, 100x, even 1000x) after that it's #hardtohumblewhenyoustuntinonthejumbotron status...and then there is the loss of control over the thing you made, and you'd be likely to think more about having to watch it succeed or fail with that knowledge...it prolly ain't an easy decision bruv, i think much of the time the decision to sell or not has to do with strategy
Click to expand...

That's greed, point blank. Millions of dollars is life changing so billions will change your family forever.

I'll say it again a company can have my app for 1M-5M I will feel no way about it.
Don't care if someone is telling me it's worth double. I'm letting it go, that's my exit strategy to sell my app lol.

Until the numbers are realized (actually in your account) it's all speculation. It's like the idiots who thought because their house was worth a Mill pre crash that they were millionaires. Appreciation is nothing if you don't plan on selling.
Click to expand...
The money will come, and it'll either come to you, or to the guy who fleeced you and made billions to go with their already billions of dollars. It's not greed, it's getting what you're due for the work and foresight you put into your product. Just my thoughts on the subject.
Click to expand...

it could be greed in some situations, that is one way of looking at it...but think of it the other way; that is you think it is worth more that what offer is or you actually belief in what it is you are building...

BeezyGotSole said:
I'm talking about myself and my app 1M would allow me to invest and go into other business ventures to create wealth. These kids came from money millions ain't s*** to them .
Click to expand...

if tomorrow you got offered meeting with some investor and after talking with you about the potential of the thing you have built, said investor decides rather than buy your app for the cool 1M they would like to invest in your vision for 10M, you'd turn it down? let's say you do decide you rather do something else than work on this app, if you were to find out, after looking over the particulars with your partners & advisors or people you trust have your best interest in mind, that you could be leaving at LEAST another 30M on the table & laid out a sensible roadmap to get there...you'd walk away? it great to have an exit number/strategy but wouldn't the circumstances affect your thought process?

yea, these dudes seem to come from families that have a some coin, but i think if you were building something and reputable people come to you and offer large sums of cash, not too many folk would just take the money without evaluating what it is they are actually giving up both creatively & monetarily...and i'd have to think, even if a person was just building apps with the intention of selling, they'd still be interested in maximizing that cash out...
 
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