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


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.

Kokou Adzo

Kokou Adzo is a seasoned professional with a strong background in growth strategies and editorial responsibilities. Kokou has been instrumental in driving companies' expansion and fortifying their market presence. His academic credentials underscore his expertise; having studied Communication at the Università degli Studi di Siena (Italy), he later honed his skills in growth hacking at the Growth Tribe Academy (Amsterdam).


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