Facebook comes with a new business surprise each year. Whether it be the great Facebook graph search or be its Instagram deal, Facebook seems to know what move would bring it a considerable profit. If you have been finding about the social media updates last December, you might have heard about the offer as high as $3 Billions, which was given by Facebook to Snapchat developers lately. If you have missed it somehow, here is even a cherry on the cake, snapchat refused the offer for reasons quite justified.
Here is what you really need to know about why did this deal failed to work, but before that, let us first update you on what snapchat really is.
Snapchat-a magnificent smartphone app
Smartphones have turned into a business resource for majority of the software houses all over the world who are enjoying great revenue generated by their smart applications and one out of them is snapchat. Snapchat is basically a messaging application which enables the smartphone users to exchange pictures through VoIP. This feature is nothing new but the real charm of this app is its feature of deleting the shared picture just after a few minutes of receiving. The app gradually grew significantly and is still setting its target in the market. Facebook was quick enough to predict the future of such an app and offered its requisition.
Facebook’s offer to purchase Snapchat
Facebook representatives took an official move by discussing the all-cash deal with Snapchat, offering its largest requisition ever. It might be crazy to decline such a he offer as per some of the social media analysts but snapchat kept holding its ground and the deal never happened to work.
Why Facebook wanted to purchase Snapshot?
Facebook’s poke app which it launched months back was a complete failure. Snapchat, meanwhile, has consistently ranked among the most-downloaded apps since late last year. What could have been better than trying to buy a delicious meal which was already highly-bid!
What Stopped Snapchat from selling itself to Facebook?
There are very few people in the world who get to build a business like this,” Evan Spiegel told Forbes for a cover story profiling the cofounder and CEO, which was published online Monday. “I think trading that for some short-term gain isn’t very interesting.”
Probably this was a wise decision as it is the company is doing really great so far!
Let us now wait and watch that what new innovations Facebook comes next with!
All for now,