Snapchat Turns Down $3 Billion Offer

Thursday, 14 November 2013 | by Pat's Picks

The 23-year-old CEO of messaging service Snapchat has turned down an offer from Facebook for close to $3 billion. The Wall Street Journal says Snapchat is being wooed by other investors, including China’s Tencent. Even though it has no revenue, investors say Snapchat has value because of its big user base and the unique format of its disappearing messages.

SOURCE: Wall Street Journal