Facebook Attempted To Buy Snapchat For $1 Billion [Report]


Snapchat

Snapchat CEO Evan Spiegel received an acquisition offer from Facebook CEO Mark Zuckerberg a few months back and it was no small amount of change. According to The Wall Street Journal’s Evelyn Rusli and Douglas MacMillan Facebook was willing to pay $1 billion for the private messaging company.

Spiegel and his co-founding partner Bobby Murphy, however, did not need a quick payout, having already personally pocketed a decent amount of cash (millions of dollars) from their previous financing rounds.

Rusli and MacMillan write:

“According to people briefed on the matter, Facebook CEO Mark Zuckerberg tried to approach the start-up to discuss an acquisition above $1 billion. However, Facebook was rebuffed by Spiegel, who was not interested in selling his service to the social network, according to those people.”

Facebook and Snapchat have not responded to requests for comments at this time.

As of September, Snapchat users were sending 350 million messages per day. In June that number was set at just 200 million Snapchat messages daily.

If Snapchat moves forward with its next big round of funding it is expected to value the company somewhere in the ballpark of $3 to $4 billion.


Dan Evon

Dan Evon was born, raised, and currently lives in Chicago. He is the Editor-In-Chief at Social News Daily. Over the last six years Evon has helped build several web platforms to millions of monthly readers. Dan is an expert is social media platform building and a freelance content consultant specializing in trending, evergreen and news content.

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