Within this past week social media leader Facebook tried to buy one of the newest apps taking storm, Snapchat. Snapchat is relatively only two years old, but has been getting negative publicity about it's use. Many critics say that Snapchat is mainly used for the term "sexting".
Facebook supposedly offered Snapchat $3 Billion dollars to buy them out, but Snapchat refused. Snapchat's refusal to be bought out by Facebook is making headlines considering Facebook is one of the top social media guru's.
In my opinion, Snapchat should've accepted the offer because it seems like the app is becoming one of those apps that in time will be forgotten. Snapchat earlier in the year seemed to sky rocket when people began to find out about it, but now it seems like no one uses it anymore. I think it will ultimately fade out like Vine has when it was once the popular app. Recently, Snapchat added a storyline photo option where users can put a video or picture as their "life story". Ultimately, this seemed like a choice by the company to try and make Snapchat stay popular. To me, it was an overall fail because it didn't really change anything. If Snapchat were to have taken the offer from Facebook, they might of had a better chance at not fading out. I think Facebook could've helped Snapchat out with updates and new features that would keep people interested in the app rather than stop using it. Mark Zuckerberg seems to know what he's doing so, I think it's a big mistake for Snapchat to turn down his offer to them. Facebook bought Instagram last year and Instagram is still on top.
More on this topic of how Facebook tried to buy Snapchat can be found on Forbes.
I like how you compared this situation to what happened to vine. I think Snapchat should also take the offer because Facebook could benefit Snapchat and plus $3 Billion dollars is a lot of money for an app that is only two years old. Facebook would also benefit from the addition of the popular app. Great article and great feedback on it!
ReplyDeleteYeah I totally agree with you about Snapchat's ceiling of popularity. I think Evan Spiegel & Co. should definitely take the money because I don't see snapchat becoming any bigger than it already is. It reminds me of ebaumsworld- the owner didn't sell the company when he was offered something like a $100 million and then Youtube happened, which drastically brought down the price of ebaumsworld.
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