The furor around popular technology startups shows no sign of letting up. The latest big-money rumor centers on Snapchat, the company behind the eponymous 2-year-old smartphone messaging app that has yet to earn a cent. Facebook reportedly made an all-cash $3 billion offer in recent weeks, but Snapchat turned it down. The offer and subsequent snub came as Snapchat reportedly was considering a potentially more lucrative deal: a $200 million round led by Chinese Internet firm Tencent Holdings that would value it at $4 billion.
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Snapchat Deletes $3B Facebook Bid
Posted by: Kris Holt November 14, 2013 03:51 PMThe furor around popular technology startups shows no sign of letting up. The latest big-money rumor centers on Snapchat, the company behind the eponymous 2-year-old smartphone messaging app that has yet to earn a cent. Facebook reportedly made an all-cash $3 billion offer in recent weeks, but Snapchat turned it down. The offer and subsequent snub came as Snapchat reportedly was considering a potentially more lucrative deal: a $200 million round led by Chinese Internet firm Tencent Holdings that would value it at $4 billion.