Teen favourite Snapchat rejected $3bn Facebook bid, says newspaper

<div xmlns='http://www.w3.org/1999/xhtml'><p><img src="http://cdn3.independent.ie/incoming/article29752471.ece/ALTERNATES/h342/snapchattt.PNG" width="600"/> Snapchat is popular with teens</p><br />MOBILE messaging startup Snapchat rejected an acquisition offer from Facebook that would have valued the company at $3 billion or more, according to a Wall Street Journal report.<br /><p>Facebook representatives reached out to Snapchat in recent weeks to discuss the all-cash deal, which would have been Facebook's largest acquisition ever, the report said, citing anonymous sources.</p><br /><p>Facebook declined to comment. Snapchat could not immediately be reached for comment.</p><br /><p>Snapchat, which allows consumers to send smartphone photos which automatically disappear after a few seconds, has proven popular among teenage users.</p><br /><p>The report of Facebook's interest in Snapchat comes a couple of weeks after Facebook, the world's No. 1 Internet social network, acknowledged that it was seeing a decline in daily use by young teenagers in the U.S., although it said overall use by teenagers was stable.</p><br /><p>Shares of Facebook were up 3.1 percent at $48.05 in afternoon trading today.</p><br /><img src="http://www.independent.ie/editorial/images/logo-itunes.jpg" width="600"/> <img src="http://www.independent.ie/editorial/images/playstore.png" width="600"/></div>

Technology Teen favourite Snapchat rejected $3bn Facebook bid, says newspaper

Snapchat is popular with teens MOBILE messaging startup Snapchat rejected an acquisition offer from Facebook that would have valued the com...

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