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Is Snapchat worth £1.9bn?
Other | Thursday 14th November 2013 | damian
According to The Wall Street Journal, Snapchat founder Evan Spiegel recently turned down an offer from Facebook of £1.9bn for the acquisition of his image messaging company. The 23-year-old entrepreneur, who founded the firm while a Stanford University student in 2011, has stated that over 350 million images are sent between mobile devices daily through the app. Last year, investors valued the company at £500 million and if the Facebook offer were accepted, it would be the biggest purchase by the social media firm. The company has recently however, come under scrutiny over potential privacy issues as hacks have been released which save snaps sent through the app, instead of its original purpose, which is to self destruct images after being viewed. The popularity of the app doesn’t seem to be on the decline nonetheless so keep snapping away. Just be cautious as that picture you thought was gone, might not be after all.
Damian Nwatarali
