Snapchat Reject $3bn Acquisition Bid from Facebook

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$3bn bid from Facebook is rejected by Snapchat

By piranha

14th November 2013

According to the Wall Street Journal, the image messaging firm Snapchat has rejected a $3bn (£1.9bn) acquisition offer from the social networking site Facebook.

Snapchat, founded by Evan Spiegal and launched in September 2011, is a hugely popular mobile app which allows its users to send each other photographs that automatically delete only a few seconds after being viewed.

Popular with teenagers, it is believed that over 7 million people in Britain use the app, although these figures have not been confirmed by Snapchat. However, the firm were able to confirm that over 350 million pictures are sent via the app each day between mobile devices.

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