Snapchat knocked down a $3 billion offer from Facebook, in hopes the app will become more valuable in time, Slate.com says.
Any offer will not be considered by co-Founder and CEO Evan Spiegel, 23, until early next year, Slate.com says.
Teens are flocking to apps like this one that allows the user to send a time-limited picture message, which might be why Facebook is willing to pay so much for it.
While other social media sites, like Twitter, are losing money, Snapchat is not making any revenue. Slate.com came up with a few ideas to turn the app into a money-making machine:
And the one every Snapchat user fears….
"Save all the pictures/chats and threaten to post them unless people pay up" –Slate.com
Other sites, such as Instagram, started out without making a dime. They solely offered a popular service, Slate.com says. Then, they found ways to advertise and now they are rolling in the dough.
Was Spiegel's decision a wise one? Three billion dollars can go a ways for a 23-year-old. I guess we will find out "early next year" if he gets an offer he can smile about.