Facebook Offered To Buy Snapchat For $3 Billion, And Snapchat Said No

Evan Siegel, the founder of Snapchat, just turned down a reported $3 billion from Facebook to buy his app.

Snapchat, the blink-and-you'll-miss-it photo-messaging service, turned down a $3 billion offer from Facebook, rumored earlier this year to be developing its own version of the ephemeral app. Facebook's logic behind the bid is clear: Photo and video sharing may be on the up, but the younger demographic are not doing it via Facebook--Snapchat, WhatsApp, and Pheed are the preferred mediums.

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