Snapchat founder turned down 3 BILLION CASH from Facebook
- Thread starter Mook
- Start date
"Zuckerberg tried to clone Snapchat’s features with Facebook’s own Poke app, only to see the competitor grow and the homegrown one fail."
Apps go under redesigns all the time. Why would this be any different? Again, if tons of people use it then it can be monetized. The customers are lined up, you just got to give them something to buy. I am pretty confident that it wouldn't require billions of dollars of R&D to rehash the app enough to monetize it, so yeah, there is profit to be made there. We are also speaking to direct monetization, but there is also indirect as well, which is probably what FB had planned to buy the company for. Portal to the app, but through another one before you get there, use your FB logon to access, etc.
I'd be putting 1 billion behind my own shit then to make it better.
What is spending more money on a failed app going to accomplish? Kids like SnapChat right now and they're not going to jump ship to a FB app because Zuckerfuck dumps more money into it.
about the 3 billion + lost idea
One has zero bearing over the other. Whether Snapchat ends up getting bought for more than $3B has nothing to do with whether it is able to be monetized in and of itself. The merit of profitability doesn't base itself upon happenstance. The better question to ask yourself, is how is it NOT monetizable, considering the amount of users it has?
If its so monetizable, why hasnt it been done already? Why hasnt the guy just chucked a banner on one of the pages? The app is already pretty ugly and shitty from a design standpoint so obviously tossing a rotating banner on the chats page would be simple enough....yet, it hasnt been done yet.
Or hell, why not charge for a premium account with some BS features.
I can't believe some of these responses.... It's not 3 million, it's fucking BILLION WITH A B.
3 BILLION PEOPLE.
You'd have to be the the most conceited/overzealous person in the world to not think that's enough, whether or not he can get let's say 4 or 5 billion, it's a moot point. He's a 23 year old that should have sold immidiately before someone else profits and he's left with a cool idea and much less coin. Vines, and even instagram are already using stuff just like snapchat... It's not like it's revolutionary.
I would have RAN with the money, and again stand by my point it's not like FB offered him a couple of mill, and he said no thanks I'll stick it out for a better offer. I probably would have sold for anything over 500 million because... how much fucking money do you need after that? Still can't get over it, 3 billion. Fuck me, that's the entire GDP of countries put together and this kid said fuck it. Hilarious.
3 BILLION PEOPLE.
You'd have to be the the most conceited/overzealous person in the world to not think that's enough, whether or not he can get let's say 4 or 5 billion, it's a moot point. He's a 23 year old that should have sold immidiately before someone else profits and he's left with a cool idea and much less coin. Vines, and even instagram are already using stuff just like snapchat... It's not like it's revolutionary.
I would have RAN with the money, and again stand by my point it's not like FB offered him a couple of mill, and he said no thanks I'll stick it out for a better offer. I probably would have sold for anything over 500 million because... how much fucking money do you need after that? Still can't get over it, 3 billion. Fuck me, that's the entire GDP of countries put together and this kid said fuck it. Hilarious.
If the sun can explode then why hasn't it done so already??? It must not be able to explode.
^^^ See your false logic?
There is a tipping/starting point for everything. You don't just immediately monetize a new thing because usually with that comes growing pains for the "customers" and even the developers to go through. It is like fishing. You don't pull the bait up right after casting, you let the fish get enticed and feel like they really want/need the bait. Then when they have fully committed to taking the bait, you set the hook and reel them in.
Perhaps that's what they are working on?
After all, you don't turn down $3B unless you think you can make more.
If anyone is curious on how SnapChat can evolve and monetize (when they feel the time is right).. read: Messaging App Line Now Brings In Nearly $100M A Quarter, But No Official Word On An IPO | TechCrunch
That said, he's an idiot for not selling for 3B, the risk of failure is far too great not to take the money this early in the game. The downside far outweighs any potential upside.
Sure there's potential to make more down the road, but ultimately, it's not a wise choice.
My cred:
past: sold a startup
current: co-founded a mobile app startup
That said, he's an idiot for not selling for 3B, the risk of failure is far too great not to take the money this early in the game. The downside far outweighs any potential upside.
Sure there's potential to make more down the road, but ultimately, it's not a wise choice.
My cred:
past: sold a startup
current: co-founded a mobile app startup
Honestly, it's done on purpose. You build a user base without ads, then BAM you throw the ads on there. By the time you have an established user base they're not going to migrate really. Look at FB, Google, Yahoo etc. While some people shift about on those services not a ton do. I fucking am annoyed by Google, yet do not switch to something else. Yahoo annoys the fuck out of me, yet I don't switch. Why? Because it's there and done what I needed it to for a long time. When this guy wants to monetize he will. Then again I'd sell without ever monetizing as it's really the litmus test if one of these companies is worth it's weight in anything, I just don't see it personally. It's also like FB's M&A has been *that* great overall. In fact they're on my top list of "investment suckers" along with HP.
Id venture a guess that 80% of apps have ads built in to some degree....and they have no problem building and retaining a userbase...snapchat could have done it from the start or at and point they wanted to. I dont believe it has anything to do with alienating the users. If the users cared about aesthetics, they would have never stuck w/ SC as its already ugly and bland
Thread Info
-
Created -
148Replies
-
8KViews
-
Participants list
