Snapchat, the latest social-media fad in the States has rejected a $3BN offer from Facebook

Tom McKay
Tom McKay Livewire

Snapchat, the latest social-media fad in the States has rejected a $3BN offer from Facebook. The application allows users to send each other snaps, short messages or photos that auto-delete in less than 10 seconds. According to some sources China's Tencent is also courting the company and has offered to lead an investment that would value two-year-old Snapchat at $4 billion. Evan Spiegel, Snapchat's 23-year-old co-founder and CEO, is unlikely to consider an acquisition or an investment until early next year, the people briefed on the matter said. They said Spiegel is hoping Snapchat's numbers - of users and messages - will grow enough by then to justify an even larger valuation, the people said. (VIEW LINK)

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Chris Titley

Biggest IPO in 2014?!

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Simon Cheatham

maybe we only get 10 seconds to read a wire before it goes into the ether?

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Tom McKay

Another point to consider... Alex Cowie @acowie said to me last night... It's novel marketing to say that the messages are deleted after 10 seconds but you can bet the NSA has them all on file.

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Tom McKay

@scheatham suggests snap-wire. I'll talk to our Dev team over the weekend to make it happen.

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