A company value of over $3 billion dollars from nothing just two years ago must be some kinda of record. Evan Spiegel and Bobby Murphy co-founded one of the most popular instant messaging services, Snapchat.
I personally see no benefit to the app and find the services it provides nearly useless. But apparently there are millions of others out there who would disagree with me; cumulatively sending and receiving over 350 million ‘snaps’ everyday.
The young founders denied Facebook’s latest offer of $3 billion as they believe a much higher offer is not too far away. Seeing as the company is only two years old I can’t disagree with that decision. Seeing as how Twitter is over seven years old and is now valued at $25 billion, Snapchat made the right decision in turning down Facebook’s offer.
For a company with no business model and no sales Snapchat is looking very good as of now however need to come up with a plan to generate income soon before they become another messaging app trying to keep their heads above water.