Snapchat’s instant capture and erase photo messaging system’s has seen it’s popularity soar in the last year, with an estimated 300 million images being sent and received daily. Just like fellow blogger Cynthia describes, Snapchat has become a huge part of my everyday life as a teenager. In attempts to mirror the success of Snapchat, Facebook developed “Facebook Poke” which did not nearly garner as much success as Snapchat, thus encouraging Facebook to offer $3 billion USD for the acquisition of Snapchat.
Reportedly, CEO of Snapchat Mr. Evan Spiegel is not looking to sell his company for another couple of months to allow the app to expand and attract more customers in order to seek a larger valuation. However, from one perspective, if Snapchat plans on doing either of these things, it should not wait too long. At the moment, Snapchat is nearing the peak of it’s popularity and the value of the company will likely fall if they don’t come up with newer innovations. This has been the second time Snapchat has turned down Facebook, proving that it’s not willing to sell its company or join in a merger… at least not yet. Meanwhile according to Wonkblog, Chinse company Tencent is also looking into purchasing Snapchat in order to keep competition off the market. Another blogger, William, thinks that more money can be made for Snapchat, but ultimately, only time will tell whether they’re making the right decision to hold off on merging with Facebook or not.
Did Snapchat make the right decision?