Google tried to buy Snapchat for 30,000 million dollars in 2016, today the offer is still on the table, according to BI
In the world of technology companies there is an unwritten rule that says, if you are not innovative enough to succeed, be good enough for a big company to buy you. The case of Snapchat was a clear example of innovation that burst the market. However, Zuckerberg’s empire was not expected to appear in business with Instagram, severely impacting Snapchat’s involvement in the market.
According to Business Insider information, Google put a $ 30 billion offer to acquire Snapchat in March 2016, just before the company became public. It seems the offer still stands and Google seeks to take advantage of the current situation of Snapchat losing users to reaffirm that money is still on the table.
Facebook was interested in acquiring Snapchat in 2013 when they offered $ 3 billion, an offer that was rejected as Snapchat CEO Evan Spiegel has always been against the ‘big corporations’ mentioning their job is to be independent.
Now Google jumps on the scene and the offer increases by 10 times the Facebook proposal. According to estimates, Snapchat currently has a value of $15 billion, so Google seeks to pay double to gain control of the company.
This purchase would make perfect sense in terms of advertising, since Google would take advantage of Snapchat’s scope to sell advertising and monetize the application, as well as being part of the great ecosystem of the great G. This would serve to compete against Zuckerberg and his empire, which continues to gain ground in mobile advertising, which has belonged for years to Google.
Many users have migrated from Snapchat to Instagram due to the scope of the application, even though it is entirely mobile. Meanwhile, Snapchat has not managed to find the key to return to the path of success and competing against Zuck, because despite launching new filters, functions and even glasses, nothing is preventing people from leaving Snapchat.