Mark Zuckerberg and Snapchat
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Mark Zuckerberg tries to buy Snapchat
On 10/28/13 10:16 AM, Mark Zuckerberg wrote:
I just got off the phone with Evan. He said he enjoyed getting to know us but he thinks they can build much more value on their own. For reference, our offer was $3.1b for the company plus $1b in retention packages. [REDACTED] on his board was advising him strongly not to take the offer. Evan did not offer a counter.
Interestingly, [REDACTED] told him that Instagram was worth >$10b now and that Snapchat could be worth the same soon. I told him we thought Instagram was only worth ~$6b and had a clearer business model, but l'm not sure that moved him.