Facebook allegedly tries to acquire Snapchat

Facebook allegedly tried to acquire Snapchat.

Facebook allegedly tried to acquire Snapchat.

A recent report from The Wall Street Journal claims that Facebook has offered $1 billion to acquire Snapchat, but CEO Evan Spiegel turned it down. WSJ’s sources swear it happened, but they could not specify when such an offer to the popular photo-sharing app took place.

That $1 billion offer sounds familiar, isn’t it? That is how much Facebook reportedly paid to acquire Instagram, arguably the most popular mobile photo-sharing app, last year. It is unsure whether Facebook planned to acquire both Instagram and Snapchat or that the social networking company had the Instagram acquisition as a back-up plan of sorts. Nevertheless, the deal was generally well-received as Facebook bolsters its staying power in the midst of growing boredom among its younger users.

Similarly, Facebook would have sealed its dominance in the photo-sharing realm if it was able to acquire Snapchat, which claims to have 350 million photo messages from users per day. Snapchat has able to attract a much younger demographic, a section that Facebook would love to get back.

Spokesperson from Snapchat and Facebook refuse to comment on the matter.

Source: Mashable

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