Snapchat CEO Revels Why He Rejected Facebook's $3 Billion Offer

chops018

http://mashable.com/2014/01/06/snapchat-facebook-acquisition-2/?utm_cid=mash-com-fb-main-link

Was he mad? What would you have done?

I would have taken it straight away.. the way these social network apps rise and fall today is astonishing. Although SnapChat seems to be keeping life, I don't think it will last long term.

On another note, myself and my friend were talking about Facebook today. He felt it will be around for a long time, I said it seems to be dying out a bit, alebit very slowly.

The likes of Twitter, Instagram etc seem to have a steady flow of users and I don't think they will rise or fall too much.

Thoughts?

the only reason Facebook want snapchat is to kill it! He obviously doesn't want that to happen. Anyway, I think that Facebook will be around for a fair while yet, some teenagers are rejecting it but only because their parents are on it so that's "uncool".

mickydoomsux

What's Snapchat?

J_E

Getting tired of megacorporations sucking up everything else they see. Internet monopolies are what is causing a lot of trouble with net neutrality and the like today. There is no real choice in search engine, social network, video sites, etc. and the companies like Google and Facebook who know this exploit it at every turn. It's ruining the Internet bit by bit and turning it into a limited commodity rather than a people-powered web.

Also think it was fairly weak of Zuckerberg to first bully another company and then arrogantly try to flash cash at them when that didn't work and they didn't get their way with their own app.

I have principles but I don't have $3billion.

Capt'n Midnight

Take the money and run.

If you want then setup a new ChattySnap site.

on a more serious note how much has the leaking of 4.6m user's information after being warned months in advance devalued the site by ?

Duck Soup

mickydoomsux wrote: »

What's Snapchat?

My reaction also. This youngster explains it quite well. It seems to be very much a fun little social media app. Doesn't look difficult to replicate, but if you read the linked article in the original post, Facebook already tried it and failed.

Incidentally, I think that Facebook are more aware than anyone that they are vulnerable to the whims of fashion and popularity and they're trying to get around that by buying as many other 'digital properties' - sites, apps, platforms, programs etc etc - to spread the risk.

BetterThanThou

Personally I think Facebook is something that will stay for decades to come. Facebook is so big that the majority of sites have Facebook integration and allow you to sign up at the click of a button using your Facebook account. Facebook has gotten to the point where you can just assume someone is on Facebook and most of the time you'll be right. I don't feel it's possible for it to fall, definitely not in the near future.

SV

Ah snapchat, the ultimate tool for receiving nudes.




Is what they'd have you believe, reality is friends sending you pictures of the shïte they just done.

chops018

Cydoniac wrote: »

Getting tired of megacorporations sucking up everything else they see. Internet monopolies are what is causing a lot of trouble with net neutrality and the like today. There is no real choice in search engine, social network, video sites, etc. and the companies like Google and Facebook who know this exploit it at every turn. It's ruining the Internet bit by bit and turning it into a limited commodity rather than a people-powered web.

Also think it was fairly weak of Zuckerberg to first bully another company and then arrogantly try to flash cash at them when that didn't work and they didn't get their way with their own app.

Yeah I think I fully agree with this post.

BonkeyDonker

Snapchat will be the in thing until they try monetize it - then people will move onto other things. If it was me I would have taken the cash and ran - would it make me a sell out, of course, but it would also make me stupidly rich and I could get therapy to get over it.

kjl

I reckon it's a fad, the article didn't really explain why he didn't accept the offer. Was hoping for a page 2.

Sir Digby Chicken Caesar

Cydoniac wrote: »

Getting tired of megacorporations sucking up everything else they see. Internet monopolies are what is causing a lot of trouble with net neutrality and the like today. There is no real choice in search engine, social network, video sites, etc. and the companies like Google and Facebook who know this exploit it at every turn. It's ruining the Internet bit by bit and turning it into a limited commodity rather than a people-powered web.

Also think it was fairly weak of Zuckerberg to first bully another company and then arrogantly try to flash cash at them when that didn't work and they didn't get their way with their own app.

how is there no choice?

are you being prevented from using any of the other five trillion search engines out there?

mickydoomsux

Duck Soup wrote: »

My reaction also. This youngster explains it quite well. It seems to be very much a fun little social media app. Doesn't look difficult to replicate, but if you read the linked article in the original post, Facebook already tried it and failed.

Incidentally, I think that Facebook are more aware than anyone that they are vulnerable to the whims of fashion and popularity and they're trying to get around that by buying as many other 'digital properties' - sites, apps, platforms, programs etc etc - to spread the risk.

So, picture-messaging that you can plaster some MS Paint on then?

Amazing. Never been done before. Have 3 billion dollars.

J_E

Sir Digby Chicken Caesar wrote: »

how is there no choice?

are you being prevented from using any of the other five trillion search engines out there?

No, not at all. Do any of them provide anywhere near the degree of functionality and accuracy of Google though? No, not really.

I do use DuckDuckGo but always find there are lacking results, so there is a big sacrifice.

Capt'n Midnight

BonkeyDonker wrote: »

Snapchat will be the in thing until they try monetize it - then people will move onto other things. If it was me I would have taken the cash and ran - would it make me a sell out, of course, but it would also make me stupidly rich and I could get therapy to get over it.

with that sort of money you could build superfast electric cars or space rockets or eradicate diseases


or seeing as how the only superpower that Batman and Iron Man have is money you could go on to fight supervillans

the groutch

Idiot not to sell for that kind of money.
The only thing we can be certain of in this world is uncertainty, and the company could be gone bust within a few years just as easily as it could grow beyond it's $3bn valuation.

Guy:Incognito

Cydoniac wrote: »

Getting tired of megacorporations sucking up everything else they see. .

I'd say you'd be ok with it if they were looking to send $3B your way.

_Redzer_

Fúck off Facebook I'm sick of you integrating into everything

brevity

BetterThanThou wrote: »

Personally I think Facebook is something that will stay for decades to come. Facebook is so big that the majority of sites have Facebook integration and allow you to sign up at the click of a button using your Facebook account. Facebook has gotten to the point where you can just assume someone is on Facebook and most of the time you'll be right. I don't feel it's possible for it to fall, definitely not in the near future.

It's hugely integrated at this point.

I read an article a while back about how certain parts internet slowed because Facebook had a technical glitch.

EDIT: Linky - http://gizmodo.com/5982677/a-facebook-bug-pretty-much-took-down-the-entire-internet

The_Valeyard

Fair play for him for doing what he feels is right. Giving Facebok the two fingers maybe he believes he can get more in the long run.


But if someone offered me 3billion for something I created......sold.

Buy my own Island.

anthony4335

Does anyone find it sad that she (the video) changed the auto correct spelling of "something" to somethin

Red Nissan

Deleted User wrote: »

the only reason Facebook want snapchat is to kill it! He obviously doesn't want that to happen. Anyway, I think that Facebook will be around for a fair while yet, some teenagers are rejecting it but only because their parents are on it so that's "uncool".

This is what I'd have said too, and I'll add that the worst fate to befall a teenager is when her mum invites her to be her friend.

Red Nissan

Red Nissan wrote: »

This is what I'd have said too, and I'll add that the worst fate to befall a teenager is when her mum invites her to be her friend.

True, just ask my son! :pac:

Dudda

Even if it fails and its sold in 2-3 years for only 100 million its still more money than most of us here will ever see so why not give it a go.

My name is URL

BetterThanThou wrote: »

Personally I think Facebook is something that will stay for decades to come. Facebook is so big that the majority of sites have Facebook integration and allow you to sign up at the click of a button using your Facebook account.

Yeah.. those features can be removed or replaced at the click of a button too though. Digg and MySpace used to be hugely 'integrated' on sites but you hardly ever see it these days, or on newer sites. Twitter & Facebook have taken their place.. I doubt they'll be around 'for decades to come'.

I think that in future most people will just have their own online space, detached from and unrestrained by any third party 'network'.

...or I could just be talking bollox.

BillyMitchel

It's a tough one. Nah it's not actually I'd take the billions and run.

If you came up with snapchat there's a slight chance you might come up with another successful app.

These things come and go so quickly - bebo for example. Sold for a few million I think and the original people bought it back for something stupid like a pound.

Madness Ted... Madness

Potential-Monke

I couldn't care how much someone is against mega corporations taking over. It's $3 Billion for christs sake!!! Take it, and invent another app that will make your old app obsolete! $3 billion!!!!!!!!!!! Idiot.

Rabelais

I admire his youthful gumption. He'll almost certainly regret the decision, but at least he has the entrepreneurial spirit to try and develop the product as a standalone service.

Can't really see how you can monetise a service that allows you to send pictures of your todger to other people, but I'm sure there is some way of doing so. All these products being offered for free come at the expense of your privacy.

J_E

_Redzer_ wrote: »

Fúck off Facebook I'm sick of you integrating into everything

Facebook is basically the Borg right now. They'll blow up in the not too near future but for now, assimilate into the collective...

Glad I left it.

My name is URL

Potential-Monke wrote: »

I couldn't care how much someone is against mega corporations taking over. It's $3 Billion for christs sake!!! Take it, and invent another app that will make your old app obsolete! $3 billion!!!!!!!!!!! Idiot.

Do they ever actually get that money though? Where are FB going to come up with that amount of solvent cash for one app?!

They'd more than likely be offered the majority in stock.. and if your money is on that company going kaput then it's not really worth handing over your ideas.

Facebook are only looking to absorb and ultimately demolish any competition. 3 billion offered for one app is laughable really.. the age of 'the app' is still in infancy. How many others are going to come along which threaten a percentage of FB's market share?

They won't be able to go on offering 5% of their worth each time a prospective competitor emerges.

Potential-Monke

My name is URL wrote: »

Do they ever actually get that money though? Where are FB going to come up with that amount of solvent cash for one app?!

Can't be that hard to sell stock for asking price for Facebook can it? I'd still take it and sell all the stock. Even if you took a small hit on the stock prices, you'd still be a billionaire!

keith16

Facebooks most valuable commodity is user data. Users of FB use it mainly to share photos and a bit of chat.

Snapchat has the ability to replace this functionality with the added bonus of allaying (perhaps somewhat questionably) privacy concerns which FB appears to have increasing disregard for.

This could result in many users turning their back on FB and thereby massively reducing FBs most valuable asset, the associated user data.

Personally, I can see FB usage declining massively as the internet continues to evolve. Another main reason that people cite for using FB is "to stay in touch".

Just as Snapchat is allowing users to share photos without requiring every last known detail of the users life, I believe we will have more and more ways to divorce our personal details, with those minor details required to stay in touch and share photos with the people we want to.

In simple terms, think of a phone. You require no other details to connect with another user other than a number. The phone doesn't care that you went to such and such school, and that you work as a full time mammy in County Cork. Why can't the web be that simple?

jantheman91

He's too busy getting his hamsters to increase security of his app, to avoid any further coup of personal details by hackers.

KyussBishop

The guys net worth is already around $200 million - he doesn't need to sell out to anybody, that'd just mean he loses his company and gets slapped with a non-compete clause.

An extra $750 million is kind of superfluous at that stage anyway - he can already do pretty much anything he wants.

Dman001

If it was me, I would have only of sold the company if I had achieved everything I had set out to achieve with the product/service/company. If I had a long term strategy laid out, I wouldn't settle until I had achieved it no matter how tempting an offer I had received. Look at the cultural impact Facebook has made on the world, would it have made the same impact if it accepted Microsoft's acquisition offer? There's nothing to say Snapchat can't evolve to have the same impact, despite the turbulent and risky nature of social network/technology companies.