Yesterday we heard that messaging app Snapchat turned down an offer of around $3 billion from Facebook, and now according to OM Malik, the company received a larger offer after the Facebook one from Google.
Apparently after Facebook’s offer of $3 billion was turned down, the company’s 23 year old CEO and co-founder, Evan Spiegel turned down a larger offer of $4 billion from Google.
Snapchat has been growing fast over the last few months, and the messaging app which allows you to send photos, message and videos to your friends is now sending around 350 million messages per day, this has increased from 200 million in June.
The company raised $60 million from investors back in June, this investment gave the company a valuation of $800 million at the time, but obviously both Facebook and Google think the company is more valuable.
As does Snapchat’s CEO, otherwise he would have not turned down two large offers so far. Spiegel has told investors that if the company decides to pursue an investment early next year, he will sell a block of his own stock.
It will be interesting to see what happens with Snapchat, if the company continues to grow at its current rate, it could end up being a lot more valuable that the amounts offered by both Google and Facebook.
Source ValleyWagFiled Under: Technology News, Top News