Google Supposedly Made A $4 Billion Offer For Snapchat
Earlier this week, it was reported that Facebook made a $3 billion offer to buyout Snapchat. Snapchat is an app that is available on all major mobile platforms. Chat messages, photos, and videos that are sent through Snapchat self-destructs after a few seconds of viewing them. Now it is being reported that Google made a $4 billion offer to buyout Snapchat. Around 350 million messages are sent through Snapchat per day.
According to Valleywag, Snapchat CEO Evan Spiegel turned to Google around the same time as the Facebook offer to seek a “strategic investment.” Spiegel decided to pass on Google and Facebook due to the rate of the company’s growth. On paper, Snapchat would be valued at a higher amount.
Google would have kept Snapchat as a standalone app just like Facebook did with Instagram. Valleywag reported that this information is coming from a single source. Snapchat and Google has not confirmed any of the details of the offers.
When Snapchat raises their next round of funding, it would be at between $3 billion and $4 billion.
[Source: Gawker]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry