Why Snapchat Rejected Facebook's $3 Billion / €2.2 Billion Offer

The fact that Snapchat said no to such a huge offer made headlines everywhere

By on January 7th, 2014 10:30 GMT

Snapchat’s Evan Spiegel explained why he chose to reject Facebook’s $3 billion (€2.2 billion) takeover offer and it’s fairly easy to understand.

According to Forbes, who interviewed Spiegel, the cofounder and CEO believes there are very few people in the world who get to build a business such as Snapchat. “I think trading that for some short-term gain isn’t very interesting,” Spiegel said.

In the process of trying to convince the Snapchat leader to accept the deal, Mark Zuckerberg reportedly flew to meet with Spiegel, telling him that Facebook was planning to release a rather similar app in just a few days. “It was basically like, ‘we’re going to crush you’,” Snapchat CEO Evan Spiegel told the magazine.

Facebook Poke, the product the company came up with, proved to be a flop and no one’s heard of it in what seems like forever.

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