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Snapchat Allegedly Rejected $4B Buyout Offer From Google

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We recently learned that Snapchat supposedly rejected a jaw-dropping $3 billion offer from Facebook earlier this year, and now a new rumor has surfaced claiming the startup also rejected a $4 billion dollar bid from Google. The report comes from GigaOm founder Om Malik and appears to originate from a single source.

According to Valleywag, Google would have left the photo-sharing service as a separate service and was largely motivated by fear that Facebook would pull even further ahead in the social media market. Snapchat CEO Evan Spiegel has reportedly decided to reject all current offers, and hopes to sell the company for an even higher valuation next year.

Snapchat currently boasts 350 million pictures uploaded on average each day, but if the company can hit 400 million it will eclipse Facebook as a photo-sharing platform, drastically raising its value in they eyes of potential buyers. Speigel clearly believes that the company can hit this benchmark in the near future, and for now the app appears to be showing solid growth.

Om Malik valley wag

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...