Launched in September 2011, Snapchat has recently attracted an offer of $3 billion from Facebook – which it swiftly rejected.The image service popular with teenagers serves more than 400 million ‘snaps’ every day and is unique in that it allows users to communicate by sending each other photos which are automatically deleted after seconds of viewing.
The offer if accepted would have valued the service higher than Instagram, which was bought by Facebook for $1 billion last spring.
When it comes to getting people to share photographs, Snapchat has already surpassed Facebook so this could have been a smart move. But what will be Spiegel’s next move?
