Be Inspired! : Meet The Guy Who Rejected $3Billion From Facebook’s Zukerberg

Snapchat’s Evan Spiegel

Snapchat CEO Reveals Why He Rejected Facebook’s $3 Billion Offer.

Snapchat shocked much of the tech community late last year when a report in the Wall Street Journal revealed that it had turned down a $3 billion cash acquisition offer from Facebook. Now, Snapchat’s CEO has offered an explanation for why he hasn’t sold the company yet.

“There are very few people in the world who get to build a business like this,” Evan Spiegel told Forbes for a cover story profiling the cofounder and CEO, which was published online Monday. “I think trading that for some short-term gain isn’t very interesting.”

That might sound like a standard enough talking point for a founder until you consider just how much the “short-term gain” actually was. Forbes calculates that Spiegel and his cofounder Bobby Murphy would each have received $750 million from the Facebook offer.

The deeper reason for the decision, at least according to the Forbes profile, is that Snapchat’s founders sensed weakness and opportunity.

Facebook CEO Mark Zuckerberg first flew out to meet Spiegel in his hometown at the end of 2012, according to Forbes, and proceeded to try scaring Snapchat’s founders by telling them that Facebook planned to release a nearly identical app a few days later. “It was basically like, ‘We’re going to crush you,’” Spiegel told Forbes about meeting. That app was Facebook Poke, which proved to be a flop.

Zuckerberg paid another visit to the young company the following fall to make his bid to buy it, but by that point Snapchat’s founders felt they had an edge.

Snapchat has since raised another $50 million at a reported $2 billion valuation — less than Facebook’s reported bid, but getting there.

Source: Mashable

Comments

Over Here Guys!; Mosanto Develops Revolutionary New Penis-Enlarging Corn Crop. (Must Read)

The multinational agrochemical and agricultural biotechnology corporation, Monsanto, announced this morning, that they had genetically engineered a modified corn crop, designed to help men have larger penises and longer-lasting erections. The company’s scientists used genes from a number of plants to create this surprising species of transgenic corn, described as “more efficient than any penis-enlarging pill”. They notably used genetic material from a plant native to Indonesia and Malaysia, called Eurycoma Longifolia or Tongkat Ali , which is known for its ability to raise testosterone levels. They also used genes from watermelon, as its rind is a good natural source of citrulline, a dietary precursor which causes the penis to fill up nitric oxide. This relaxes the smooth muscle in blood vessels and erectile organs, augmenting the penis’ capacity for enlargement during erection. “Men will no longer have to pay hundreds of dollars to have larger penises” says Dr. Fi

Subscription Fee Increase! FRN v. Multichoice: CPC Sets Up Complaint Desk for DSTV Subscribers

The Consumer Protection Council (CPC) is setting up a special channel for receiving complaints from DSTV and GOTV subscribers who have been unable to renew their subscription at their bouquet prevailing price as at July 31, 2018. The CPC noted that the above measure become necessary following Multichoice’s deliberate disobedience of court order restraining them from increasing their subscription rate or prices, pending the determination of an application before the court. In a statement issued by the DG of CPC Mr. Babatunde Irukera, consumers experiencing the above challenges are advised to send an email to multichoicecompliance@cpc.gov.ng , stating relevant information, including smart card number, name, telephone number, date and time of failed attempt to pay, supporting same with relevant evidence such as a screenshot or document (where necessary). The statement reads: “It has come to the attention of the Consumer Protection Council that customers of MultiChoice N

For the love of woman! Man chops off his friend’s hand

A 22-year-old man, Yusuf Hassan, has been apprehended for chopping off the hand of his friend, Abubakar Umar, with a machete, during a fight over one Habiba, on Wednesday, in Dakwa, Abuja. Dailytrust quoted Umar as saying Habiba had relocated with her parents from Kaduna, some months ago, and that before they could get a room to rent, he gave his room to them as a temporary shelter and relocated to his friend’s room. “My friend, Yusuf, started developing interest in the lady. However he suspected me of also having same feeling for her, which is not true. . That was how I started having problem with him to the extent that he once warned me that it could be the reason for him to terminate my life. The family got another place and I eventually returned to my room,” he added. . However, on Wednesday, Yusuf attacked Umar with a machete, but as he (Umar) attempted to dodge it, it hit his hand and cut it off. The Zuba Divisional Police Officer, CSP Fodio Sani, confirmed the incid

Pep Opara's Blog

Search This Blog