Snapchat reportedly rebuffed $3 billion offer from Facebook
Facebook wants to own it all it seems: Instagram, Luma, Lightbox... that's not enough. With a host of video and photo startups already in its growing stable of acquisitions, word has it that Zuck and co. wanted to capture that Snapchat magic as well. According to the Wall Street Journal, Facebook went to the video messaging service with an offer of $3 billion in cash to join its growing social family. But it seems that Snapchat CEO and founder Evan Spiegel has no intentions of selling right now. Investors and potential buyers are lining up at his door cash in hand, but Spiegel believes the service can continue to grow, leading to an even bigger pay day when it comes time to sell out. At least according to the Journal's sources.
Those same sources also say that this is the second offer Facebook has made for Snapchat. The social giant made an earlier attempt to purchase the company for $1 billion, the same price tag it put on Instagram, but was refused. Now the question is, will Mark Zuckerberg simply shift his crosshairs to another video messaging service, or will he come back in a few months time with even more cash on the table in an attempt to woo Spiegel into the fold.
