Meet Ewan Spiegel, 23, CEO of Snapchat, who recently rejected a £3 billion offer from Facebook to acquire his photosharing app according to a Wall Street Journal report on Wednesday.
Let’s not begin to convert $3 billion to Naira and let’s just say that is more than the annual budget for several states in Nigeria.
Snapchat is a mobile phone app, which allows consumers to send smartphone photos that automatically disappear after a few seconds.
It is reported to be very popular among teenagers who send explicit “sexting” pictures.
According to the reports, Facebooks representatives reached out to Snapchat recently to discuss the all-cash deal but owners of Snapchat refused to sell.
Sources say they are holding out for a bigger offer when their business grows larger.