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kleinbl00 · 4052 days ago · link · · parent · post: Understanding Snapchat: A Journey That Left Me Feeling Out of Touch
My guess: Snapchat's VC structure gives relatively little to the founders (who are currently in control of the company) and their financial position is better in possession of the IP than after the sale of the IP. It makes sense. Facebook has been flailing about lately, throwing cash at anything they see that might preserve their marketshare. So $3b is their "safe" offer, rather than their "pain point" offer. I'd feel dumb passing up on $3b unless I suspected there was $6b on the table.