Disappearing messages are no joke to the social network, which reportedly couldn't entice Snapchat to sell in an unprecedented all-cash deal. November 13, 2013 11:03 AM PST Snapchat headquarters in Venice, Calif. (Credit: Chris Kirkman) Facebook made Snapchat, maker of an app for exchanging ephemeral messages, an offer of lasting value: $3 billion in cash, according to the Wall Street Journal. Snapchat, true to its form, discarded the deal just as it does the 350 million messages it handles every day. The rebuffed offer, more than three times the value of Facebook's successful bid for Instagram, comes as two-year-old Snapchat explores a massive funding round at around a $4 billion valuation. Facebook declined to comment on the matter. This story is developing...
Wednesday, November 13, 2013
Disappearing messages are no joke to the social network, which reportedly couldn't entice Snapchat to sell in an unprecedented all-cash deal.
November 13, 2013 11:03 AM PST
Snapchat headquarters in Venice, Calif.
(Credit: Chris Kirkman)
Facebook made Snapchat, maker of an app for exchanging ephemeral messages, an offer of lasting value: $3 billion in cash, according to the Wall Street Journal. Snapchat, true to its form, discarded the deal just as it does the 350 million messages it handles every day.
The rebuffed offer, more than three times the value of Facebook's successful bid for Instagram, comes as two-year-old Snapchat explores a massive funding round at around a $4 billion valuation.
Facebook declined to comment on the matter.
This story is developing...
