Google Reportedly Tried To Outbid Facebook For Snapchat

Just days after photo-sharing app Snapchat
said no to a $3 billion dollar buyout from Facebook, new reports are surfacing that search-giant
Google has offered an even higher bid for the service. The rumor first surfaced after GigaOm founder
Om Malik tweeted this: “Latest rumor/gossip on @Snapchat. After Facebook offered $3B [billion]
Google offered $4B [billion] … ” and here’s the catch ” … but [Snapchat creator] @evanspiegel
said no!” The Wall Street Journal reported Wednesday
that Spiegal was originally in talks with Chinese e-commerce giant Tencent, but after
those broke down he went to Facebook claiming he was ready to sell. But, he then turned down an $3 billion dollar
all-cash offer from the social media site after reportedly taking the deal to Google
and asking them to match the terms. And with Google’s interest piqued, the company
was reportedly prepared to shell out $4 billion. That’s a lot of dough, considering Snapchat
has no profit model for its product so far. (Via The Times of India) But Spiegel reportedly rejected that offer
too, with reports claiming he had never had any intention to sell, but rather wanted to
increase the company’s valuation for fundraising next year. (Via TechCrunch) Because there’s a good chance Snapchat might
surpass 400 million snaps per day this winter. (Via Snapchat) That mark would rival the number of photos
uploaded to Facebook each day, giving a higher valuation and validation. (Via Facebook) A blogger for Valleywag says when it’s only
billions of dollars in cash, why not just shout big numbers into a bubble and let them
gain strength as they roll? ” … all these rumors flying without a cent
changing hands? Seems on par with paying billions of dollars for a startup with no revenue.”

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One thought on “Google Reportedly Tried To Outbid Facebook For Snapchat

  1. This garbage reminds me of the company that was going to buy the pirate bay and make it a legal site..   Rumors or just a bunch of hot air, either way, nobody should care.

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