Snapchat Owner turned down 3bn dollar buy out

AnonoBoy

..... I presume it's because he's a f*ckin' eejit.

He's 23. His company has yet to make money and he's turned down a 3bn dollar offer from Facebook.

In ten years time when Snapchat is a punchline along the lines of Friendster and Bebo he may really regret not selling.

http://www.slate.com/blogs/future_tense/2013/11/13/facebook_offered_3_billion_for_snapchat_evan_spiegel_said_no.html

Wacker The Attacker

AnonoBoy wrote: »

..... I presume it's because he's a f*ckin' eejit.

He's 23. His company has yet to make money and he's turned down a 3bn dollar offer from Facebook.

In ten years time when Snapchat is a punchline along the lines of Friendster and Bebo he may really regret not selling.

http://www.slate.com/blogs/future_tense/2013/11/13/facebook_offered_3_billion_for_snapchat_evan_spiegel_said_no.html

no sh1t

AnonoBoy

Wacker The Attacker wrote: »

no sh1t

Of course he'll probably just hold out for more money and sell it in a few months the greaty pr*ck.

But let's that not stop us all saying he's a fool now!

Wacker The Attacker

AnonoBoy wrote: »

Of course he'll probably just hold out for more money and sell it in a few months the greaty pr*ck.

But let's that not stop us all saying he's a fool now!

Indeed

Duggy747

Never ceases to amaze me on how much these seemingly standard apps get offered, 3 billion quid for fùck sake.

He's taking a massive risk by not accepting it with social media and it's users being so finicky and unpredictable at times, another app could easily take over and take a bite out of SnapChat's worth leaving him with a fraction of what was offered by Facebook.

Muise...

Duggy747 wrote: »

Never ceases to amaze me on how much these seemingly standard apps get offered, 3 billion quid for fùck sake.

He's taking a massive risk by not accepting it with social media and it's users being so finicky and unpredictable at times, another app could easily take over and take a bite out of SnapChat's worth leaving him with a fraction of what was offered by Facebook.

They're buying the users and the buzz as well as the app.

iDave

I'm going to create a new app called Post. Essentially how it works is something similar to a hard copy of an email will be entered into a Post Outbox on every street in the country. Then a complex network of humans, sorting offices and motorised vehicles deliver the message directly to an Inbox on your front door.
Benefits include the message not self deleting after a few seconds, you can attach photographs, send money (not secure though), unlimited space so no txt tlk, can be safely secured in your drawer, only you can view the message as your name will be on the message when it enters your inbox so nosey spouses cant view.
I estimate my app at 10bn Euro.
If Mark Zuckerburg is reading, yes I would like to sell.

delw

Never even heard of "Snapchat"

gctest50

Just in time to take away teh Snappiness

https://itunes.apple.com/gb/app/snap-hack-pro-for-snapchat/id716560946?mt=8

iMac_Hunt

AnonoBoy wrote: »

Of course he'll probably just hold out for more money and sell it in a few months the greaty pr*ck.

I would do the same. Why would you sell something now, if a few months down the line you will sell it for a higher sum? Yeah, there is a risk that you may not be offered as much as originally offered but I'd be willing to take the risk anyway.

I'm sure when people stop using it the NSA will be interested in their logs and cached images :P

AnonoBoy

iMac_Hunt wrote: »

I would do the same. Why would you sell something now, if a few months down the line you will sell it for a higher sum? Yeah, there is a risk that you may not be offered as much as originally offered but I'd be willing to take the risk anyway.

But when the offer for the company is THREE BILLION!!!!????

Come on!

SEPT 23 1989

hungry b@stard

iMac_Hunt

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---

AnonoBoy wrote: »

But when the offer for the company is THREE BILLION!!!!????

Come on!

howamidifferent

delw wrote: »

Never even heard of "Snapchat"

Me neither.

Arrow.

iMac_Hunt wrote: »

I would do the same. Why would you sell something now, if a few months down the line you will sell it for a higher sum? Yeah, there is a risk that you may not be offered as much as originally offered but I'd be willing to take the risk anyway.

Regardless what it's worth down the line, he was offered 3 friggin' billion. I'd say that's enough for anyone...except Evan Spiegel obviously and maybe Bruce Willis.

EyeSight

I'm sure Zukerberg was offered something similar for facebook.

You don't know anything about this guy. He probably has a connection with this appand wants to see it grow. He might care more about that than money

JJJJNR

Oh nice bit of PR for snapchat, lets all go to their website.

Baaa

Jester252

What an utter fool. A product like snapchat is just so delicate. All it takes is for someone to release a slightly better version or Facebook just to say f it and rob the idea like their are known to do. Any lawsuit payout will be much less than the 3 billion.

Vito Corleone

He's not in the money business. He's in the empire business.

AnonoBoy

Vito Corleone wrote: »

He's not in the money business. He's in the empire business.

He's in the taking pictures of your mickey and sending them to people business.

Maximus Alexander

I'd love to have 3 billion dollars. I'd buy a new laptop.

Duggy747

Maximus Alexander wrote: »

I'd love to have 3 billion dollars. I'd buy a new laptop.

First thing I'd do is head to Dunnes and buy a pack of donuts.

Tzardine

Duggy747 wrote: »

First thing I'd do is head to Dunnes and buy a pack of donuts.

Jesus would you not hire a taxi and head for Superquinn

Maximus Alexander

Strituck wrote: »

Jesus would you not hire a taxi and head for Superquinn

This is the problem with people who come into money, they lose the run of themselves.

Karl Stein

https://www.youtube.com/watch?v=aUc8ACrVPX4

irish_goat

I can't understand how 3 billion could ever be deemed "not enough". He probably doesn't own 100% of Snapchat so the figure would be smaller but I still don't understand why he would hold out for more.

gerrybbadd

I'd have the 3 billion taken so quick heads would spin....

Then i'd send a snapchat picture to Zuckerberg of my bank balance!

rubadub

Why are people just saying this single fella is mad? People are making out its an unbelievably good offer -which would suggest that facebook are mad ones too, and no doubt there were loads of people in facebook involved with the offer, and other business people employed by facebook determining the value of the offer, so really you are saying they are all mad. Its not like it was some spur of the moment mental lapse on their part. They must have it figured out that its worth it.

If it was some oddball single billionaire making a crazy offer it would be a different story, where he could feasibly offer a ludicrous amount.

HellboundIRL

It's a risky business, Digg turned down an offer of 200 million in 2008 from Google and was sold 4 years later for 500k.

I'd take the 3 billion and run.

wtlltw

AnonoBoy wrote: »

But when the offer for the company is THREE BILLION!!!!????

Come on!

He's holding out for Wenger to trigger the 3 billion and 1 clause

o1s1n

Is there anything you could not buy with 3 billion which more money would get you?

Bit of a mad one alright. Take the money and run!

Or even better, take the money and pay someone to run for you, while you sit on his saddled back wearing a top hat, monocle and brandishing a horse crop.

131spanner

3 billion at 23 years old. Say he lives to 85. Over the next 62 years, he could spend over 16 million a year and still not have to work.

Living on $43,000 a day... Imagine the possibilities

Calibos

131spanner wrote: »

3 billion at 23 years old. Say he lives to 85. Over the next 62 years, he could spend over 16 million 48 Million a year and still not have to work.

Living on $43,000 $132,000 a day... Imagine the possibilities

FYP

I'd make it my lifes work to spend $132,000 a day

Actually Brewsters Millions springs to mind. Any one remember that Richard Pryor Film from the 80's

131spanner

Calibos wrote: »

FYP

I'll admit pass maths for the leaving didn't stand to me. Full marks for effort!

I'm actually looking back through that and I've no idea where I got 16 per year. Derp.

Maximus Alexander

And if you could get 3% interest on your 3 billion, which is pretty conservative I'd have thought, you'd could give yourself a tidy $90,000,000 a year salary without ever touching the capital.

Triangla

At 1% interest a year that works out as 82,000 a day in interest forever!

seamus

EyeSight wrote: »

I'm sure Zukerberg was offered something similar for facebook.

You don't know anything about this guy. He probably has a connection with this appand wants to see it grow. He might care more about that than money

Connection kershmection.

The offer would literally set him up for life, he could do whatever he wanted; buy a small country and become king. He can build all the other apps he wants and give them cuddles all he likes.

Anyone who lets sentimentality get in the way of this kind of offer is an idiot*. Fine if it was $1m or even $10m, but $3bn? Even if I had advisors screaming in my ear telling me I could sell it in two years for $10bn, I'd still be on that offer faster than you could say "billion".

Snapchat is a flash in the pan, he has to be aware of that. Let facebook buy it and they can be two happy flashes in the same pan together.

https://www.youtube.com/watch?v=ZiY31tfJIZ0

*Obviously being offered money for friends, family or pets doesn't count as "sentimentality"

krudler

I get that he probably wants the value to go up, but 3 billion quid is more money than people could spend in a lifetime, take it and run kid. You could spend your time coming up with a new app and live like a king.

I think it would be too risky living off the interest.

Could have any amount of bank collapses in the future and who knows to what extent.
The banking system hasn't been around very long when we consider the time line of the worlds lifes span.

I'd spread 2billion around a tonne of banks at some or abroad.

Any buy plenty of prime(stuff in town centres, accom for students) estate and a few businesses to increase my future outlook incase of a bust.

:pac:

everdead.ie

HellboundIRL wrote: »

It's a risky business, Digg turned down an offer of 200 million in 2008 from Google and was sold 4 years later for 500k.

I'd take the 3 billion and run.

Facebook turned down 1 billion from Yahoo and shortly after were offered 17 billion from Microsoft a few years later they did an IPO for 100 billion.

Cases of both happening.

Rebel Rebel

he probably got offer most of it in shares in something else he had no faith in. that is the one good reason i could think of for turning it down.

Maximus Alexander

Rebel Rebel wrote: »

he probably got offer most of it in shares in something else he had no faith in. that is the one good reason i could think of for turning it down.

The article states it was an all-cash offer.

Rebel Rebel

i should have read the article, wow 3b cash

Arawn

AnonoBoy wrote: »

But when the offer for the company is THREE BILLION!!!!????

Come on!

yeah but then tax kicks in and you're left with like a measly 1.6

AnonoBoy

Arawn wrote: »

yeah but then tax kicks in and you're left with like a measly 1.6

1.6 billion?

Yeah, I suppose when you put it that way he's right.

Sure what could you buy for that? Nuthin' I'd say.

Agricola

Someone should introduce this fella to the guy who founded Bebo. Take the money and run. Snapchat mightnt be worth a tuppenny tinker's curse in a couple of years.

Mint Aero

He refused the offer because like me he's a man of principle and ethics. Facebook rape your privacy when you join. Snapchat dont.

lintdrummer

Agricola wrote: »

Someone should introduce this fella to the guy who founded Bebo. Take the money and run. Snapchat mightnt be worth a tuppenny tinker's curse in a couple of months .

FYP

IvaBigWun

That will go down as one of the biggest business mistakes in history, he needs his head examined

Sh1tbag OToole

This reminds me of the lad who was offered 49 million for a site during the tiger but he wanted 50. and now the site is worth feck all