Would you turn down $3 billion?

[Exterous]

Snapchat turned down a $3 billion (With a B) buyout offer from Facebook. While many seem to think that was a good idea I'll admit that for that amount of money would make me consider selling out

http://www.nytimes.com/2013/11/14/technology/rejecting-billions-snapchat-expects-a-better-offer.html

Maybe they'll make more or get a better offer but still...

 

[TridenT]

Saw that too. I was thinking, "Who the fuck turns down $3B over this stupid app?"

And then I remembered the interview with the snapchat founders on The Colbert Report. Idiots.

 

[SlitheryDee]

I guess if I loved doing something my own way without having someone else to answer to AND it was already making me wealthy enough to satisfy me, I might turn down $3 billion. Snapchat sounds like something that could be subject to the fickle whims of public interest though. Today it's worth billions, but tomorrow it may not be, and apparently it's not bringing in anything in the way of profits now. Still, maybe they're right. I'm certainly no expert in this arena.

 

[BladeVenom]

I would have sold without a moment's hesitation. Something like that can lose value fast.

 

[lxskllr]

In a second. I couldn't sign the papers fast enough. Snapchat's worthless, and I'd feel pressure to get out before everyone woke up and realized it.

 

[xSauronx]

In a second. I couldn't sign the papers fast enough. Snapchat's worthless, and I'd feel pressure to get out before everyone woke up and realized it.

seriously, i would have an island or something by now if i were one of those guys.

 

[KeithTalent]

I don't even know what Snapchat is, so I would have sold them for $50. For three quadruple extra large? Hell yes.

KT

 

[Sheik Yerbouti]

No, hell no. I cannot imagine turning down 3 million, let alone 3 billion. FFS....

 

[Jumpem]

They are idiots for not selling.

 

[xSkyDrAx]

Would be hilarious if he holds out till next year and no one wants it. Imagine that as the greatest mistake of your life rofl

 

[Jeff7]

Turn down initial offer.
Wait for a better offer.
Then sell out.
Or simply get pushed out of the market for free.

 

[Theb]

They chose poorly.

 

[Red Squirrel]

I guess if I loved doing something my own way without having someone else to answer to AND it was already making me wealthy enough to satisfy me, I might turn down $3 billion.

That's kinda my thought on it too. Say I owned something and I'm making close or even over a million, and I am also doing it because I enjoy it, and I don't want to see my product get taken by some big company and possibly ruined (probably how the Youtube funder feels now), I would probably refuse any offer. I'm already making millions, that's more money than I can spend in my life time anyway. Anything more is literally just a number.

 

[Atomic Playboy]

I can't think of any job in the world that I'd be unwilling to give up for $3 billion (or, more appropriately, a percentage of $3 billion, as Snapchat has numerous owners and investors). The potential for failure is enormous for internet companies, and if you don't cash out when the opportunity arrives, you're much more likely to wind up as another MySpace than another Zuckerberg.

 

[ThinClient]

They chose poorly.

 

[JulesMaximus]

No, no I would not.

 

[tracerbullet]

I literally LOL'd, thank you.

 

[zinfamous]

I would have sold without a moment's hesitation. Something like that can lose value fast.

this.

any given app is inherently worthless. You are the plaything of fickle teenagers, and your relevance is based on their fleeting tastes.

if someone wants to buy your worthless product for an amount that you and your friends can retire for life and do whatthefuckever you want, you do it.

 

[WaTaGuMp]

3 billion just doesn't go as far as it use to I guess.

 

[Markbnj]

In a second. I couldn't sign the papers fast enough. Snapchat's worthless, and I'd feel pressure to get out before everyone woke up and realized it.

This. The app doesn't do, and hasn't ever done, the one thing they promise the millions of teens who use it that it will do. Amazing that Facebook wants to own this scam.

 

[RaistlinZ]

They are idiots. Someone can come along and make a similar app that's better, rendering Snapchat useless.

 

[DaveSimmons]

Back in the late 90s I was kicking myself for not making one of those stupid browser wrappers around IE that were selling for tens or hundreds of millions during the internet bubble.

Expecting to get more than $3B for an app? MADNESS!

 

[Exterous]

I guess if I loved doing something my own way without having someone else to answer to AND it was already making me wealthy enough to satisfy me, I might turn down $3 billion. Snapchat sounds like something that could be subject to the fickle whims of public interest though. Today it's worth billions, but tomorrow it may not be, and apparently it's not bringing in anything in the way of profits now. Still, maybe they're right. I'm certainly no expert in this arena.

I don't know - there are a lot of things that I would love doing my own way after selling out for that much money. For example: watching people landscape my new island by webcam while sailing on my mega yacht.

If they do decide to sell I hope its soon for their sake as I agree with you about the fickle part

 

[Ricochet]

This has to go down as one of the single biggest business blunder in history.

Never even heard of the app but I keep thinking of all the old sharewares that went away like the dodo.

 

[Berliner]

They might get a Billion more out of this.

But more likely they will end up with next to nothing, compared with the 3 B offer.