Facebook co-founder Mark Zuckerberg has been pining after Snapchat since meeting with the app’s founders in December of last year, but it looks like he’s going to have to find another app to lust after.
The popular photo-messaging app reports that its users send about 350 million photos each day, all via mobile phone. Zuckerberg is interested in the company because Facebook’s mobile users have increased in recent years, causing their mobile advertising revenue to rise significantly.
For those who haven’t caught onto the beauty of sending silly faced selfies to your friends, Snapchat is a popular photo-messaging app that allows users to send a photo to a person, or group of people. The photo will show for an allotted number of seconds before disappearing forever.
Because of its increasing popularity among teens, twenty-somethings, and just about everyone else, Facebook’s CEO and founder has tried multiple times to purchase the rights to the app. After 23-year-old Evan Spiegel and his fellow Snapchat co-founder graciously declined Facebook’s initial $1 billion acquisition offer, Zuckerberg and his team have decided to up the ante.
Facebook has offered Snapchat’s founders $3 billion to hand over their ingenious creation. Unfortunately for Mark and his team, they’re not budging!
Sources briefed on the matter say they don’t expect that Spiegel and his partner will consider an acquisition until early next year, if at all. They say the partners are hoping to see Snapchat’s users grow enough to justify and increase the company’s overall value.
A 23-year-old just turned down $3 billion with this look on his face:
That man must have a master plan up his sleeve. We’ll keep our eye on this one.
SOURCE: Wall Street Journal | PHOTO CREDIT: Getty Images
