‘Facebook tried to take over Snapchat again in 2016’

Facebook allegedly made another attempt to acquire Snapchat in 2016. The social network reportedly did the same in 2013 and then offered $ 3 billion. It is not known how much Facebook paid for Snap in 2016.

According to sources from The Wall Street Journal Facebook CEO Mark Zuckerburg approached Snap CEO Evan Spiegel in mid-2016. The approach would have been rejected by Spiegel and he would not have reported to the entire board that Facebook was interested in a takeover.

Sheryl Sandberg, Facebook’s chief operating officer, would also have contacted Snap board members to gauge whether the company was interested in an acquisition. It is not known whether Facebook mentioned amounts in the takeover attempts in 2016.

In 2013, Snap, Snapchat’s parent company, turned down a $3 billion takeover bid from Facebook. The company was valued at $2 billion at the time. Earlier it was rumored that Google also had plans to take over Snap in 2016. The search giant would have offered $ 30 billion.

Snap went public in 2017 and was initially valued at more than $25 billion. The stock market value has now dropped to about $ 6.5 billion. The company saw the number of users decrease at the beginning of this year. This would be caused, among other things, by a new design that was not appreciated by many users.