Digital Media

Snapchat rejected $3 billion buyout offer from Facebook

(Reuters) – Mobile messaging start-up Snapchat rejected an acquisition offer from Facebook Inc that would have valued the company at $3 billion or more, according to a Wall Street Journal report on Wednesday.

The active internet/technology adaptation rate is higher in teenagers than adults(see the infographic), Facebook is trying to acquire it’s way through where the teens are.

$3 billion was an investment towards the goal of staying connected with this generation in future, when they are budget holders.