In this generation, social media has taken over our lives. Every morning I wake up and the first things I do are check my Facebook, Snapchat and Instagram.  Social media has taken up so much of my life that it has become part of my daily routine.

Snapchat is an application that allows people to see their friends pictures temporarily. This relatively newer application has been bombarded with many take over offers. Among these companies who offered is the world’s most used social media, Facebook.  Facebook had offered Snapchat a $3 billion turn over, however to the industry’s surprise, Snapchat turned it down. According to the CEOs of Snapchat, the application “can get an even higher valuation” and that “Snapchat’s user numbers have more room to grow, and is encouraged by the high level of activity by current members.”

The fact that Snapchat has turned down offers may lead them down the right path. “Groupon Inc. spurned Google Inc.’s nearly $6 billion bid in 2010.” Moreover, successful multibillion-dollar social media sites such as Twitter and Facebook have also turned down several acquisitions and all of these companies have in turn increased their value on the public market.

Works Cited:

Rusli, Evelyn M., and Douglas MacMillan. “Messaging Service Snapchat Spurned $3 Billion Facebook Bid.” The Wall Street Journal. Dow Jones & Company, 13 Nov. 2013. Web. 14 Nov. 2013.

Wortham, Jenna. “Rejecting Billions, Snapchat Expects a Better Offer.” New York Times. The New York Times Company, 13 Nov. 2013. Web. 14 Nov. 2013.