Snapchat Facebook connect declined for larger valuation

Snapchat is one of the biggest messaging services and Facebook knows this, so much so that CEO Mark Zuckerberg made an offer to Snapchat’s CEO Evan Spiegel that you would have thought would not have been refused, but it was.

Teenagers are what make messaging services huge, and they have turned Snapchat into a very successful mobile service, the service is so big that Facebook offered to buy Snapchat for $3 billion.

Other investors would like Snapchat as well, WSJ reports that Chinese e-commerce giant Tencent Holdings offered to lead an investment that would value Snapchat at $4 billion, not bad considering they have only been running for 2 years.

Snapchat’s CEO Evan Spiegel is only 23 years old and he seems to be a lot like Facebook’s Zuckerberg when it comes to business, a strong head resulted in Spiegel declining Facebook’s offer of an acquisition or an investment at this given time. Spiegel believes that Snapchat will grow even more to ‘justify an even larger valuation’.

Do you think Snapchat CEO made the right decision declining Facebook’s offer?

Snapchat Facebook connect declined for larger valuation