Snapchat rejects Facebook offer of $3 billions

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The owner and founder of an instant video messaging app Snapchat is not about to be prevailed upon by Facebook CEO Mark Zuckerberg. For the second time, he rejected another offer by Zuckerberg to buy the messaging service for $3 billion which is three times the first offer of $1 billion. That could have been a lot of money for a ventures that does not produce a lot of money.

Snapchat allows its users to send photos and videos, edited or not, to a select friends who can view them in a snap before ultimately disappearing from the background and the server eventually. Snapchat founder Evan Spiegel believes the company has a lot to offer yet and is full of potentials for business expansion. Zuckerberg may have viewed the app’s popularity among teenagers as a good revenue earner after the company purchased Instagram a year ago.

But perhaps, Spiegel could just be waiting for the right time when the company is already valued more than this offer. Zuckeberg could just wait for now or find an alternative video messaging service provider for immediate acquisition to augment the features of its popular social media site Facebook. Until that time comes, we continue to wait and observe how Snapchat will go on after rejecting the offer.

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