Google Offered to Buy Snapchat Parent for $30 Billion: Report

August 08, 2017


The offer was part of an informal dialogue between the two companies
An offer to the tune of $30 billion continues to be on the table
Snap went public in March this year
Search engine giant Google had offered $30 billion (roughly Rs. 1,91,044 crores) to buy Snap - the parent company of popular messaging app Snapchat - in 2016 and a similar offer is still open, a media report said.
Google had held informal dialogue with Snap and floated an offer of $30 billion before the latter's last funding round, said a report in Business Insider on Thursday.
"One person claimed Google and Snap also had discussions about a potential buyout just ahead of Snap's initial public offering earlier this year, and that an offer in the ballpark of $30 billion has continued to be on the table since the IPO. Chatter that Snap passed up a chance to sell to Google for at least twice its current value could be especially painful for investors and employees grappling with the company's sinking stock," the report notes.
Snap's CEO Evan Spiegel, who is widely considered as being independent, apparently did not show interest in selling his firm to Google or anybody else.

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