Posted 11/15/2013 at 9:23 AM
Posted 4 years ago
The latest fast moving news: Google has upped the ante on Facebook by one million dollars to acquire Snapchat. First Facebook bid $3 billion and now comes the news that Google has bid $4 billion dollars.
What started as a tweeted rumor by the founder of GigaOm, Om Malik, has now been joined by Valleywag. Yet Valleywag has one source to rely on for its story. Google and Snapchat are not lending confirmation.
It was Evan Spiegel, the CEO of Snapchat that had Google in mind for a “strategic investment”. Spiegel has turned down both Google and Facebook, as he believes that his instant messaging photo application is bound to climb in value as its traffic increases with Snapchat. A future in which Facebook has Instagram, which they do, and Google having Snapchat is not in the cards anymore.
Snapchat is about to get busy raising millions of dollars. Snapchat’s value is estimated at $3 to 4 billion dollars.