Snapchat founder, 23, 'rejects $3bn bid from Facebook'

The 23-year-old CEO of the Snapchat messaging app has reportedly turned down a $3bn cash offer from Facebook.

Snapchat founder, 23, 'rejects $3bn bid from Facebook'
Thu, 14 Nov, 2013 - 08:36

The 23-year-old CEO of the Snapchat messaging app has reportedly turned down a $3bn cash offer from Facebook.

According to the Wall Street Journal report, co-founder Evan Spiegel is understood to have rejected the cash despite the fact that the company is losing money and has no revenue streams or business model.

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