×

Please verify

Blaze Media
Blaze Media
Watch LIVE

Start-Up Company That Has Yet to Generate Any Revenue Reportedly Turned Down Jaw-Dropping Offer From Facebook

News
Oliver Darcy
November 13, 2013

Photo messaging smartphone application Snapchat reportedly turned down a $3 billion cash offer from Facebook, individuals familiar with the offer told the Wall Street Journal.

According to the WSJ, Snapchat has yet to earn any actual revenue, but hopes to grow larger in the next several months to increase the company's estimated value.

Officials familiar with the matter told the WSJ that the company's founder, 23-year-old Evan Spiegel, will not consider any acquisition deals until at least early next year.

Evan Spiegel of Snapchat attends TechCruch Disrupt SF 2013 at San Francisco Design Center on September 9, 2013 in San Francisco, California. (Steve Jennings/Getty Images for TechCrunch)

Snapchat is also reportedly being courted by multiple businesses interested in acquiring the growing company.

According to the WSJ, a Snapchat spokesperson declined to comment.

--

Follow Oliver Darcy (@oliverdarcy) on Twitter

[related]

Most recent

Breaking: DeSantis is officially running for president, becoming Trump's top GOP primary rival

Target BOYCOTT? Why Target's LGBT items make Glenn LOSE HIS MIND

All Articles
Recommended

Ted Cruz makes AOC regret snarky comment about history of US political parties: 'Dem party founded the KKK'

Eunuch who stabbed athletics officials over questions of his eligibility to compete as a woman still holds women's Parkrun record. Female athletes aren't pleased.

Republican state senator joins Democrats to kill bill that would have prohibited performing gender transitions on minors

Bud Light boycott proves incredibly successful, costing Anheuser-Busch $15.7 billion in market value

All Articles