Snapchat Co-Founder and CEO Evan Spiegel was reported to have turned down a $3-billion bid from Facebook in mid November. This was more than double the amount of $1-billion offered by the same social network giants just one year earlier. Snapchat currently has no revenue stream, but there is potential for advertising revenues. So why would they turn down such a substantial offer? The number of Snapchatters has increase immensely in the past two years with recent numbers of 200-milion in June to 350-million in September. Clearly the CEO of Snapchat feels that his company is worth more than it had been offered. The company still has growing to do and only time will tell if it lives up to all the hype.

Articles:

http://www.independent.co.uk/life-style/gadgets-and-tech/news/the-23yearold-snapchat-cofounder-and-ceo-who-said-no-to-a-3bn-offer-from-facebook-8940433.html

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