Is Facebook wanted to Acquire Snapchat for $1 Billion?
Is Facebook CEO wanted to acquire the mobile messaging service Snapchat? Reports says its true and Mark Zuckerberg had approached the company in an attempt to acquire for $1 billion. Snapchat is one of the worlds largest photo messaging application developed and launched on 2011 by Stanford university students. Recently the company raised $200 million in funding at a $800 million valuation and the company mulling an even bigger fundraising round.
The Facebook’s acquisition plan was first reported by Wall Street Journal says that “According to people briefed on the matter, Facebook CEO Mark Zuckerberg tried to approach the start-up to discuss an acquisition above $1 billion. However, Facebook was rebuffed by Spiegel, who was not interested in selling his service to the social network, according to those people.”
But the Facebook authorities declined to comment about their acquisition plan over Snapchat. WSJ reports that the Facebook was rebuffed by Evan Spiegel one of the developer of Snapchat.
Could Facebook may be interested to acquire Snapchat because of the huge popularity and Snapchat said that in last September it processed approximately 350 million messages each day and its up 200 million from June. Mark Zuckerberg offers to pay $1 billion that the company paid for Instagram.