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Snapchat turned down a $3 billion acquisition offer from Facebook

Snapchat Co-Founder and CEO Evan Spiegel has said that the company turned down Facebook’s$3 billion acquisition offer because it wanted to wait a few months so that growth in its user base will inflate the value of Snapchat.

An acquisition offer of more than $3 billion is nothing to sneeze at, but photo-messaging application Snapchat sneezed, turning down an all-cash offer from Facebook, according to a report in The Wall Street Journal’s Digits blog.

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