With just being two years olds, Snapchat’s growth in popularity has been unbelievable. It is considered by a lot of people in recent times to have overcome the popularity of Facebook, and as the largest social media site, Facebook sees Snapchat as a big competitor, and Buyout seems to be the way for Facebook to eliminate this new entrants and become more powerful. Being valued at almost $4 billion, Snapchat turned down the buyout offer from Facebook, which in my opinion is a smart decision.

Snapchat officially joins the club of tech start-ups being valued for billions of dollars in the market. Looking up to how Groupon, Facebook, and Twitter gained success, it is very reasonable and strategic for the company to turn down the offer and grow their business originally even though it currently holds no business model and sales. This is a strong argument to contradict Eugene Worifah‘s comment of “I fear Snapchat may regret not taking the multi-billion dollar offer currently on the table from Facebook”, because even though new ideas might come out of another genius’s mind, Snapchat’s power has already put them first on consumer’s mind when it comes to photo messaging.

Embedded Blog: https://blogs.ubc.ca/worifah/2013/11/18/snapchat-how-quickly-you-have-grown/

Source: http://www.dailymail.co.uk/sciencetech/article-2507136/Snapchat-turns-3-billion-Facebook-offer-hopes-receive-higher-bid.html