Google wanted to buy Snapchat for $ 30 billion
04.08.2017 Erika J. Wells 0 Comments
Business Insider reports that in may 2016 Google wanted to buy Snap Inc. over $ 30 billion. This information was confirmed by three people familiar with the situation.
For the first time the possibility of buying Snapchat discussed in may 2016, after Snap Inc. attracted $ 1.8 billion at a valuation of 17.5 billion dollars. In November 2016, it became known that one of the investors is the company CapitalG (venture capital Fund, Google).
Google and Snapchat held talks IPO Snap Inc. on the IPO. At that time, Google also offered $ 30 billion. Technology companies often negotiate such deals, especially in anticipation of an IPO or attracting a new funding round.
In Business Insider emphasize that the only one who can make the decision about selling Snap Inc. — founder and CEO Evan Spiegel. According to sources, he was in favour of independence and is not interested in selling it. In 2013, Facebook wanted to buy Snapchat for three billion, but Spiegel declined the offer of Zuckerberg.
On August 4, capitalization Snap Inc. is 15.25 billion, the stock is trading at $ 12.93. Since IPO shares of Snap Inc. fell by 40%, but due to the publication Business Insider has grown by 3%.