Thursday, November 14, 2013

Snapchat CEO turns down 3,000,000,000 dollar pay day offer.

Snapchat turns down Billions
Pro Move or biggest Blunder Ever?

In what is considered by many the craziest turn of event for this week CEO and Founder of Snapchat Evan Spiegel has turned down a whopping offer of 3 billion dollars for the buyout of their photo app Snapchat.

Now call me crazy but Evan Spiegel must see something special that the rest of the world does not as any of the other Millions of tech start-ups out there, as is common practice world would be counting the proceeds right now with their accountants in hand, but not Spiegel.
The Snapchat app like many social messaging apps allows it users to send video and pictures, but here is the twist much like Mission impossible the messages self-destruct; sorry they disappear after being viewed.

Snapchat turns down Billions
Evan Spiegel (Right)

The app is very popular among the young generation as a means of sexting, and one could easily see the allure of such an app among teens, who would like to send messages among their friends that they would not necessarily want being forwarded or seen by parents. Pretty cloak and dagger, but it’s all the rage with teens.

Among the companies in talks with Snapchat is social media giant Facebook. Now if you know your social media history well Facebook during its infancy was made similar buyout offers, which they gracefully turn down and just look at Facebook now.

Why the interest in this latest startup? Well in today’s tech driven world if you stay on the sidelines too long the waves of changes is guaranteed to wash you away and Facebook and others like it are attempting to keep up with the times and cement themselves in the hearts and minds of not only last generation patrons but the upcoming teens, who unlike their parents have a different definition of cool. So its common today to see new hip and cool start-ups been swept up for Billions, the practice is to buy and assimilate a start-up, has been the practice by veterans such as Facebook and Yahoo.

So what do you think Spiegel should have done? Do you think he made the smart move or this will go down in history as one of the dumbest moves ever on their part?

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