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)


Please sign in to comment on this wire.

Chris Titley

Biggest IPO in 2014?!

Simon Cheatham

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

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.

Tom McKay

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