Snapchat Owners Turns Down A $3B Offer From Facebook

Since its release just over two years ago, Snapchat has been going from strength to strength and more recently the simple photo messaging app which was developed by a group of university students at Stanford has seen upwards of 350 million images passing through its servers each day to well over 100 million users worldwide. Due to its huge success and popularity, Facebook have made a huge offer to the app’s CEO – Evan Spiegel of $3B, only to be turned down as the 23-year old owner deems the company to be worth much more.

This offer has astonished a number of people worldwide as it is excessively more than the $1B purchase that Facebook made earlier in the year when they acquired the similarly popular imaging application – Instagram.

It seems that Facebook are keen to get their hands on the application as their own attempts to produce a similar app known as Facebook Poke saw little attention in the field when compared to Snapchat. With Facebook so keen to get hold of the service, especially due to the high offer, we may see another bid being placed next year when the company has an evaluation remade – with a substantial growth expected.

Source: The Verge