In response to Tina Tsai’s Snapchat Rejects $3 Billion In Cash Blog I would say Spiegel definitely took a gamble by turning down Facebook’s offer. The IPO market is always unpredictable and could turn south before Snapchat goes public. Notoriously fickle teenagers may move on to the next “cool thing” before Snapchat can go public or gets another $3 billion offer.
As of right now Spiegel knows that he has a growing audience of teenagers that Facebook desperately, and increasingly, wants. He’s banking on that audience getting much bigger and more valuable.While $3 billion is a lot of money, Speigel may figure he can hold out and make a lot more just like Twitter’s recent IPO.