Snapchat Turns Down $3 Billion From Facebook

Screenshot 2013-11-13 21.44.06

Snapchat Turns Down $3 Billion From Facebook

That’s right. A company that has no major revenue source to speak of, has turned down $3 billion from Facebook.

Snapchat’s strategy appears to be to hold off to see if they can gain more market share to get more money next year.

However, Facebook is already fighting back. They are integrating Facebook messaging to include being able to message people by phone number. That will essentially take market share from Snapchat and essentially could lower Snapchat’s valuation come next year.

It’s crazy to think that a company with no major revenue source would turn down a $3 billion offer, but obviously they have bigger plans.

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