Isn't it better for everyone who's a part of Snapchat or a pre-IPO investor that they didn't allow FB to buy them for $3B? Even if Snapchat goes to a $10B valuation (which likely won't happen this year) and stays around there, that'll still be worth it for almost everyone. Since a lot of insiders will have already taken some money out before then as well.

At this point though, simply as a consumer, I would have appreciated Snap being acquired by FB so that FB wouldn't bastardize all the other social networks to try and emulate Snap. But looking long term, I think this might be a good thing... just in the short term it really sucks.