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

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life's not fair
 
WhatCanISay said:
***a5in11 said:
If they offered me 3Bil i wouldn't of been able to sell it fast enough :lol: Its such a simple app too.
I would of been on the first plane to Hawaii to buy a ton of beachfront property
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That's the common mentality most people will go/have gone with.

Would you be able to sleep at night knowing it's worth 20 bil after a few years, though?
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Yeah I think I would be good. :lol: would buy the mariners and we would finally be contenders. Or join Chris Hansen and steal some others city's basketball franchise
 
What a lot of you don't get is that as CEO of a company, especially one you've been at since the beginning, you're privy to a lot of inside information that outsiders, even potential investors/acquirers that do their due diligence, don't see. If the guy's holding out, it's because, taking the inside information into consideration, he thinks 3 billion's a lowball offer and that Snapchat has potential to be even more valuable. If you're in his shoes and think it's worth more, I bet a lot of people in this thread that say they'd walk away from it all for 3 billion would hold out for a bit longer. If you have Yeezy's that you think will be worth 2k in a few weeks, you're not going to let them go for 1.5k now, regardless of the high rate of return you'd lock in now for letting them go at 1.5k.

And for the record, he's been eating his whole life. Word on the street is that his dad donated a ton of money for him to get into Stanford, got a brand new Escalade at 16, guilt tripped his parents into buying him an M BMW for the emotional distress of their marriage, and bought a Ferrari with first round venture money.
 
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Good for him for saying no. FB gave him 3 billion when another company offered him 4 billion. of course he would say no. Why you hating? 

Yea, FB is going down I feel. Thing is futile now IMO.
 
mcflyaldin said:
Good for him for saying no. FB gave him 3 billion when another company offered him 4 billion. of course he would say no. Why you hating? 


Yea, FB is going down I feel. Thing is futile now IMO.
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Facebook going down? Not in the near future. What social network isn't futile?
 
Coding is the future, need to learn how to make my own music app though, haven't really liked anything other people have put out besides winamp and itunes.
 
mcflyaldin said:
 
Good for him for saying no. FB gave him 3 billion when another company offered him 4 billion. of course he would say no. Why you hating? 

Yea, FB is going down I feel. Thing is futile now IMO.
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Purchasing X% part of a company for $Y at a $4 billion valuation isn't the same thing as offering $4 billion for the entire company. If I recall correctly, Tencent purchased 5% of equity for $200 mil, which suggests they value the company at $4 billion, but that isn't the same as offering $4 billion outright.
 
Rell826 said:
Facebook going down? Not in the near future. What social network isn't futile?
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Just the way I feel about it. Feel like FB lost it's "connecting you with the world" type of thing, you know? When I first got on it I was connecting with friends and family in Europe but know it just whatever since Skype, IG, etc.. FB got boring all I see is stupid statues and pics these people post. Only chat with a few friends no more then 10. Only benefit FB got now for me is these local shoe groups (buying/selling) that's all. Just lost my interest in it thats why I said it. Pretty sure I'm not the only one. 
 
Snapchat Sees More Daily Photos Than Facebook
Posted 1 hour ago by Jordan Crook (@jordanrcrook)
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Signpost Raises $10M To Bring Online Marketing Tools To Small Businesses

Snapchat now shares 400 million snaps each day, according to CEO Evan Spiegel, who confirmed the number to TechCrunch today.

In September, Evan Spiegel announced on the Disrupt stage that the disappearing photo-sharing service was seeing 350 million snaps sent per day, up from 200 million in June. Clearly, growth on the hot new service is staggering.

Even more staggering, perhaps, is the fact that the 400 million/day figure surpasses the photo-sharing activity on both Instagram and Facebook.

Facebook reportedly sees 350 million photos uploaded each day from its worldwide audience of more than 1 billion users, and Instagram’s 150 million users upload around 50 million photos each day.

Snapchat’s growth numbers likely include photos and videos, as well as “broadcast” snaps. Broadcast snaps are when a user takes one photo and sends it to multiple recipients, turning one snap into many snaps.

Of course, it’s not that surprising that more photos are flowing through the very private, self-destructing Snapchat as opposed to the very public Facebook and Instagram, where content lives forever and is seen by many.

Still, the speed with which Snapchat’s user engagement grows is quite rapid, which may explain recent rumors around a $3 billion Facebook acquisition offer and a massive funding round on the horizon.
 
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