Will Snapchat Be Facebook’s Next Instagram, Despite Rejecting A $3B+ Acquisition Offer?

An acquisition offer of more than $3 billion is nothing to sneeze at, but photo-messaging application Snapchat sneezed, turning down an all-cash offer from Facebook, according to a report in The Wall Street Journal’s Digits blog.

An acquisition offer of more than $3 billion is nothing to sneeze at, but photo-messaging application Snapchat sneezed, turning down an all-cash offer from Facebook, according to a report in The Wall Street Journal’s Digits blog.

Sources told Digits Snapchat Co-Founder and CEO Evan Spiegel will not consider acquisition or investments until early next year, in the hopes that growth in its user base will inflate the value of the company, which was pegged at $4 billion, according to an investment proposal by Chinese ecommerce company Tencent Holdings.

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