Confirmed: Snapchat Turned Down More Than $3 Billion Last Year
One of last year's great moments in undeserved ego was Snapchat rejecting billions of dollars from Facebook, and allegedly Google, too. Now, straight out of leaked Sony emails obtained by Gawker, we know it was more than the reported number.
The rumor that Snapchat had in fact, somehow, rejected a bid of more than $3 billion (as much as $4 billion) was first reported by Valleywag, and corroborated by a tweet from investor and tech media bigshot Om Malik. It was repeated (and debated) by outlets including The Verge and the New Yorker. Today, some closure: in an exchange between Sony Entertainment CEO and Snapchat investor Michael Lynton and Malcolm Gladwell (rich people inboxes are not like ours!), Gladwell asks Lynton about the widely rumored number: "Turned down 3 bil??? Are they insane?" Lynton won't tell Gladwell the exact figure—but he lets Gladwell know that they turned down even more: "if you knew the real number you would book us all a suite at Bellvue. [sic]" "Good lord," Gladwell responds.
The world may have finally learned something because of Malcolm Gladwell.