SnapChat CEO a genius or an idiot?

[maniac]

10 days too old Old news,but didn't see any thread for this :headshake: Refused a $4b offer :WTF: Snapchat Spurned $3 Billion Acquisition Offer from Facebook

Snapchat, a rapidly growing messaging service, recently spurned an all-cash acquisition offer from Facebook for $3 billion or more, according to people briefed on the matter. The offer, and rebuff, came as Snapchat is being wooed by other investors and potential acquirers. Chinese e-commerce giant Tencent Holdings had offered to lead an investment that would value two-year-old Snapchat at $4 billion. [More from WSJ: Google Targets Lower-Tier Smartphone Market With Moto G] Evan Spiegel, Snapchat’s 23-year-old co-founder and CEO, will not likely consider an acquisition or an investment at least until early next year, the people briefed on the matter said. They said Spiegel is hoping Snapchat’s numbers – of users and messages – will grow enough by then to justify an even larger valuation, the people said. A Snapchat spokeswoman declined to comment. Snapchat specializes in ephemeral mobile messages, including text or photographs, that disappear after a few seconds. The service has not generated any revenue, but is especially popular among teenagers and young adults, who use the app to send messages to friends. The approaches to Snapchat come amid rising exuberance for social media, and mobile-messaging upstarts in particular. Twitter, an unprofitable short-messaging service, is valued at roughly $25 billion after its initial public offering last week. Pinterest, an image-sharing app, last month raised $225 million from investors who valued the company, which also has no revenue, at $3.8 billion. [More from WSJ: Twitter to Allow Customized Timelines] Facebook had earlier offered to buy Snapchat for more than $1 billion, the people briefed on the matter said. In recent weeks, Facebook representatives contacted Snapchat again to discuss an all-cash offer that would have valued Snapchat at $3 billion or more. At that price, it would be Facebook’s largest acquisition, more than double its nearly $1 billion deal for photo-sharing social network Instagram in 2012. Facebook is interested in Snapchat because more of its users are tapping the service via smartphones, where messaging is a core function. Facebook has rapidly increased the share of its revenue coming from mobile advertising, but said last month that fewer young teens were using the service on a daily basis. Tencent, a diverse Internet company, owns WeChat, a major messaging service in China, and has a stake in KaKao, a popular South Korean app. It was vying to lead a group of investors that had offered to invest $200 million in Snapchat at a valuation of roughly $4 billion. [More from WSJ: Amazon Plans to Offer Desktops in the Cloud] In June, Snapchat raised $60 million from investors including Institutional Venture Partners; that round valued the company at $800 million. Three months later, Snapchat said its usage had nearly doubled, to 350 million messages or “snaps” per day, up from 200 million in June. If Snapchat pursues an investment early next year, Spiegel has told investors he would like to sell a block of his own stock, according to people familiar with those conversations.

[maniac]

Don't know what's so unique about this app....I would have taken the money and ran

[maniac]

Sorry Wrong forum

[gattaca]

Think big. Money is not going to last but product or brand will.

[maniac]

Think big. Money is not going to last but product or brand will.

Doesn't look that big of a ground breaking product/technology to be honest.....in fact I never heard of Snap Chat till this news came out

[gattaca]

Doesn't look that big of a ground breaking product/technology to be honest.....in fact I never heard of Snap Chat till this news came out

younger gen thinks otherwise.

[Jersey #10]

Its HUGE for highschool/college kids. Facebook was just that in its early days which later killed friendster when these kids grew older. Facebook was known as friendster of college. In any case 3,000,000,000 USD is too much to turn down. Dumb move Sent from my DROID RAZR using Tapatalk

[gattaca]

^^ the founder is a stanford guy. they have different thinking compared to us. money is not always the factor.

[Abhilash123]

http://www.policymic.com/articles/73429/snapchat-ceo-evan-spiegel-s-3-billion-rejection-letter-to-facebook-s-mark-zuckerberg Yo Zuckerbro, I wanted to hit you up personally to tell you how gutted I am that stuff didn’t work out between Facebook and Snapchat. It’s a bummer, but Facebook just isn’t the smexy young hookup we’re looking for, $3 billion or not. Sorry to be a buzzkill. I’m sure you get it, brosepher. You can probably still remember being a hot-to-trot brogrammer, back in the day, when you were still 23. Remember how, when you weren’t hella old, **** just kind of came to you, like how you had your hand on the pulse of digital innovation, or how your parents gave you a brand-new Escalade, and then pulled strings so you could park it next to your high school? We both know what it’s was like to be a little too badass for college — you for Harvard, and me for Stanford. We also both know how to party hard in Palo Alto. I bet your ragers with Sean Parker are pretty similar to the stuff that got my frat, Kappa Sigma, kicked off campus. And then there’s the fact that we’re both total geniuses. You came up with Facemash to look at pictures of chicks, and I invented Picaboo so hotties would send me nude selfies. You crushed it, and after one thing led to another, your company became the new hotness. But then your classmates got all greedy, and started claiming that maybe you kind of screwed your certified bros out of a lot of money. What even is that? We’ve both been there, brogellan. Good thing we’re too rich to care. That’s why you’ll totally understand that the reason Snapchat couldn’t take your money is that — no offense, bro — it’s ‘cause even though we don’t have any kind of revenue stream, in a few years, our mascot, Ghostface Chillah, is going to be all kind of dancing on Facebook’s grave. I’m sorry, but kids just don’t do Facebook anymore, Zuck. You’re like Tom from Myspace. Or what was that other thing our parents had? Friendster? Did they have a mascot? I get it. It’s hard out there for a disruptive technologist pimp. Not everyone can create an app that perfectly captures the ephemeral and fluid nature of human communication. After all, aren’t sexts just back-alley flashing made digital? Doesn’t the transience of Snapchat’s dick pics mirror that of Anthony Weiner’s political career? But bro. Bro. Don’t sweat it. I am like 100% certain that your next startup will be huge. If you haven’t come up with an idea, you should totally start shopping around for one. I hear Uber drivers have some *****in’ schemes these days. Boom. Warm brogards, - Evan Spiegel, Snapchat co-founder and CEO

[maniac]

Move this to Chit Chat :hitler:

[Detonator]

Doesn't look that big of a ground breaking product/technology to be honest.....in fact I never heard of Snap Chat till this news came out

I guess many would try snapchat after this news. This news is a free ad for them.

[maniac]

I guess many would try snapchat after this news. This news is a free ad for them.

Yeah but at what cost :banghead:

[Detonator]

Yeah but at what cost :banghead:

In short, screwed themselves as of now. :cantstop:

[hhunaeh]

an app that perfectly captures the ephemeral and fluid nature of human communication. After all, aren’t sexts just back-alley flashing made digital? Doesn’t the transience of Snapchat’s dick pics mirror that of Anthony Weiner’s political career?

I can see why its better than recordbook

[hhunaeh]

I'll switch from recordbook to snapchat if all my friends do it. I don't want what i said now to bunch of people to be read in the future by someone else, hell even i don't want to read what sh*t i said, a few months from now. recordbook feels old compared to this snapchat which sounds many times better. We can keep recordbook to post pictures from birthdays, trips and weddings so that snoopy people can check them out whenever they want to.

[CG]

and 4 billion from google.Hats off to this guy.

[StriKe]

Didn't knew about snapchat until i saw this thread :hehe:

[velu]

what an *****hole get the money and keep burning it till death on a serious note.. "In the year 1997, Yahoo rejected an offer to buy Google for 1 million"

[maniac]

what an *****hole get the money and keep burning it till death on a serious note.. "In the year 1997, Yahoo rejected an offer to buy Google for 1 million"

Let him enjoy his few days of fame...this sounds like another version of whattsapp, wonder why he was offered that much money in the first place ····wonder who the bigger idiot was

[Jersey #10]

Now he has turned down $4B from Google. This is crazy