Snapchat Declines Facebook’s $3 billion Acquisition Offer – Reports

As per the claims of Wall Street Journal, Snapchat, an image messaging firm, has declined a $3 billion offer of acquisition from Facebook. Had the firm accepted Facebook’s offer, it would have been the biggest ever purchase of Mark Zuckerberg’s company.

Facebook is without doubt one of the most popular social networking websites of the globe with more than a billion followers. It was successful in acquiring Instagram, a popular image sharing application and website, last year.

The Journal also mentioned that Snapchat has been receiving a number of other offers from different companies, including Tencent, a Chinese e-commerce company.

Snapchat happens to be one of the most popular image messaging firms among young technology lovers. The firm claims that more than 350 million images are shared through Snapchat every single day.

Created in 2011 by Evan Siegal, who was a student at the Stanford University at that time, Snapchat valued more than $800 million last year after raising more than $60 million from investors.

In recent past, there has been some criticism on Snapchat as the images get deleted after being viewed. On top of that, a number of privacy issues have also arisen with several hacks that have been created to allow users to save snaps.