Snapchat Rejected A $3 Billion Offer From Facebook

Snapchat Rejected A $3 Billion Offer From Facebook

What’s the first thing you would do with $3 billion in cash? Roll around in it? Build a fort? Buy a small nation to call your own? All these could have been on the to-do lists of Snapchat’s founders if they had accepted a $US3 billion from Facebook. Which they didn’t.

For those not already sexting their friends with the photo sharing app, it allows you to take a picture, send it to someone and have it self-destruct after a period of just a few seconds. Of course that means nothing in a world where you can save Snapchats, which everyone can.

The Wall Street Journal reports this morning that Facebook has been chasing Snapchat for some time. The company and its twenty-something co-founders are holding out, however.

Reports have emerged that Chinese giant Tencent Holdings — who have already have other apps like WeChat (a sort of Snapchat clone) and a sort of accelerated browser thingy — would offer something insane like $US4 billion for the app.

Either way, Snapchat is about to come into some money. [WSJ]