Re:Snap Inc. Reports First Quarter 2017 Results
by traviswingo on Thursday May 11, 2017 @10:07AM
(#14316076)
Seriously, though. I never understood why Groupon, Snap, etc. turn down these multi-billion dollar acquisition offers. It's not like these products/services have a huge impact on the world (if they were to disappear, who would really care?), take the money and run.
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Re:Snap Inc. Reports First Quarter 2017 Results
by skinnymuch on Friday May 12, 2017 @10:41AM
(#14324316)
Instagram selling to FB is a potential mistake in hindsight. Even without FB's direct backing, IG was poised to grow like crazy. Probably could've IPOed or sold to FB or someone else for 10x or 15x 2 years later.
Re:Snap Inc. Reports First Quarter 2017 Results
by traviswingo on Wednesday May 17, 2017 @11:10AM
(#14359188)
From what I've heard (don't quote me on this), I think Instagram was having serious financial difficulties at the time of the acquisition. The costs to run the service (media transfer and storage are a massive infrastructure cost) were astronomical. The Facebook buyout was almost the only way they'd stay alive without giving up a massive piece of the company in a funding round.