Report: Google rebuffed after offering $4 billion for Snapchat

Report: Google rebuffed after offering $4 billion for Snapchat
Just days after it was revealed that Facebook tried to buy popular mobile app Snapchat for $3 billion and was turned down, it appears that Google tried make a similar offer, to no avail.

The reports say Google offered $4 billion in cash, but the search giant was also rebuffed.



It appears that Snapchat CEO Evan Spiegel believes the company's growth is so exponential that it is worth more than $4 billion in the future. Spiegel had originally looked to Google for "a strategic investment" in the app.

Google would have left the app as a standalone, the same way Facebook did with Instagram after purchasing it for over $1 billion last year.

Snapchat is currently in a funding round that would value the company at around $3.8 billion.

Written by: Andre Yoskowitz @ 16 Nov 2013 12:30
Tags
Google Snapchat
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  • 4 comments
  • KillerBug

    That's insane...$4 billion for a service that is of little use other than sending naked pictures to people that you don't trust with naked pictures, and whom have no technical skills whatsoever...which could easily be copied by FB or Google with the only concern being a $1 billion settlement...and they turned it down?


    16.11.2013 18:04 #1

  • DVDBack23

    Originally posted by KillerBug: That's insane...$4 billion for a service that is of little use other than sending naked pictures to people that you don't trust with naked pictures, and whom have no technical skills whatsoever...which could easily be copied by FB or Google with the only concern being a $1 billion settlement...and they turned it down? Rumor is one of the company's big angel investors was also an investor in Instagram and is pissed Systrom only took $1 billion and wants to milk this for what he can.

    16.11.2013 19:17 #2

  • A5J4DX

    In cash!!!! Damn I wouldn't turn that down!

    16.11.2013 20:28 #3

  • Mrguss

    As the number of users on their network increases, so the price.

    P.S. Interesting to see a non-revenue app, go for $4B.
    Is more like: Feeding the "bubble-cow".

    +5000

    17.11.2013 18:25 #4

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