One phenomenally growing message service is in the Facebook radar. But then Snapchat, the messaging service in question, isn’t interested.
Going by what folks at Yahoo Finance found on the WSJ pages on November 13, Snapchat simply said a vehement no to an all-cash acquisition offer from Facebook for $3 billion.
It has been categorically stated that Snapchat wouldn’t want to even think of an acquisition or investment at least till the beginning of next year.
May be the rejection of Facebook’s offer comes from the belief that Snapchat’s user base and growth would be even larger later on and that could give it a better valuation.
The service has already garnered amazing popularity with its ephemeral mobile messages, including text or photographs, which disappear after a few seconds.
Though revenues are yet to flow into its coffers, the service is a hit among teens and young adults, That gives Snapchat something to cheer about.
Facebook got lured by the service as Snapchat users are vouching for the messaging service via smartphones.
via Examiner National Edition Gadgets & Tech Channel Articles http://www.examiner.com/article/snapchat-shuts-the-door-on-facebook-s-3-billion-buy-out-offer?cid=roadrunner