Snapchat Rejected $3B Buyout Offer From Facebook
The disappearing messages service spurned an offer from Facebook for a second time, as some experts say it seeks a higher valuation.By Christian Bryant | November 13, 2013
Although it has yet to make any revenue, ephemeral mobile messaging service Snapchat reportedly turned down a $3 billion acquisition offer from Facebook — straight cash.
The Wall Street Journal broke the news, saying the rejected offer comes at a time when Snapchat is getting some serious attention from other investors and potential acquirers, such as Chinese e-commerce company Tencent Holdings. (Via Snapchat)
The Journal reports the Chinese company offered to lead an investment that would've valued Snapchat at $4 billion, but the folks at Snapchat might be waiting for something bigger.