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Tech Gist

Snap Turned Down a $30 Billion Offer from Google.

Want to know what came to mind when I read the article on Business Insider? I’d still tell you even if you don’t:

Reports by Business Insider have it that Google wanted to acquire the company for $30 billion in 2016, but a deal wasn’t reached. Remember, Spiegel famously turned down a $3 billion buyout from Facebook in 2013
After the talks between the two companies did not go anywhere, CapitalG, Google’s growth-stage investment fund, went ahead and invested in Snap Inc. in 2016.

Image source: CNNMoney


Fast forward to 2017 and it seems that Snap should have taken the offer because the $30 billion buyout would value Snapchat at twice what the company is currently worth, at the moment, snap shares are trading around $12.50 which values the company at nearly $14 billion.
 
Over to you, if you were the key decision maker at Snap, would you have sold to Google knowing fully well that Google has tried its hands at creating a social platform numerous times over the last few years but has failed consistently.
Image Source: CNN Money

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9 comments on “Snap Turned Down a $30 Billion Offer from Google.

  1. Babatope says:

    Very hard decision tbh. Hard one

  2. Kay says:

    Want to know what came to mind when I read the article on Business Insider? I’d still tell you even if you don’t:

    Haha, T, I swear down. 30 Billion.

  3. ỌBÁDÁRÀ says:

    … WELL, IF WERE SPIEGEL, I WOULD HAVE HOLD ON A BIT, THEN, SELL 45% TO GOOGLE. BUT THE WAY AM LOOKING AT IT, SNAP MAY END UP LIKE TWITTER OR(WHAT AM I EVEN SAYING) YAHOO…

  4. Kachi Ojieh says:

    Snap might have made a good decision not to sell, maybe they still want to grow the company so that its value will sky rocket. Facebook is at one corner copying Snap’s styles and trying to kill the company since they refused to sell it to them.
    I just hope Evan Spiegel and Snap shareholders looks into Google’s offer. it might be a deal they would regret turning down.

    1. Kᴀʏʙᴀɴɢ ᴵˢ Ⓑₐₜₘₐₙ says:

      “Snap might have made a good decision not to sell…”
      “I just hope Evan Spiegel and Snap shareholders looks into Google’s offer. it might be a deal they would regret turning down.”

      😀

  5. Kelvin says:

    Snap is growing, it’s understandable why he doesn’t want to sell.

  6. Emerson says:

    Soon all these other social media apps might copy the life out of SnapChat, they do well to consider Google offer.

  7. Covenant Oyetade says:

    Snap is going to regret this later.

  8. Steph laws says:

    let me be going, I don’t ku ku ma dey use snapchat

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