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Snapchat CEO Reveals Why He Rejected Facebook’s $3 Billion Offer

Snapchat shocked much of the tech community late last year when a report in the Wall Street Journal revealed that it had turned down a $3 billion cash acquisition offer from Facebook. Now, Snapchat’s CEO has offered an explanation for why he hasn’t sold the company yet. “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.” See also: Why Facebook Wanted Snapchat So Badly That might sound like a standard enough talking point for a founder until you consider just how much the “short-term gain” actually wasForbes calculates that Spiegel and his cofounder Bobby Murphy would each have received $750 million from the Facebook offer. Read more…More about Facebook, Business, Snapchat, and Evan Spiegel

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Snapchat CEO Reveals Why He Rejected Facebook’s $3 Billion Offer

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