Why did Snapchat turn down $3 billion dollars from Facebook


    Why did Snapchat turn down $3 billion dollars from Facebook

  • 1 They hoped to get a higher bid

    It's believed that one of the reasons behind turning down the offer is wanting to sell the company for a higher price. See Why Facebook bought Whatsapp for 19 billion.

  • 2 The founders think the App still has great potential

    According to Dailymail Evan Spiegel , Snapchat's founder, thinks that the App still has a large room to grow. Spiegel said that the app grew from 200 million photos shared per day to 350 million in 2 month. See why People like Snapchat

  • 3 Making Zuckerberg pay back

    Some people believe that the founders didn't want to sell to Facebook because of what Mark Zuckerberg did earlier. It was reported that Mark met Evan earlier and told him that Facebook will crush Snapchat by a new App that it will release. See why Poke App failed.

  • 4 The founders believed Facebook will offer more

    During an interview with Forbes the founders have said that Facebook was so desperate to acquire Snapchat or to create a clone that they believed that $3 billion is not enough to justify the desperation. See why Facebook offered $3 billion for Snapchat.

  • 5 Evan said it's a short term gain

    Evan , who owns 25% of Snapchat, said that few people get to build a business like that and trading it for $750 million , his share, is a short term gain.

  • 6 They don't want to be like Instagram

    The founders believe that Instagram was sold too early for too little. They might have not wanted to repeat Instagram's mistake. See why Facebook bought Instagram for $1 billion.

  • 7 They believe they can raise the valuation in a new round

    The founders believed they can raise their company's valuation by getting another financing round. The fact that Facebook's offer officially made Snapchat worth more than $3 Billion might help Snapchat get a better offer. See how Snapchat started.