Well to put it simply… Snapchat doesn’t make any money. Founded just three years ago, the app doesn’t have a long record of success. Nor is the management team exactly seasoned; the last jobs Evan Spiegel, 23, and Bobby Murphy, 25, had were as fraternity brothers at Stanford.
The founders of Snapchat were recently offered $3 billion for the company, only to turn it down.
So are its young founders crazy or is the company is worth much more? Why would Facebook CEO Mark Zuckerburg reportedly offer a pair of 20-somethings so much money? Here are the answers. Continue reading