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Google Reportedly Wanted Snap Inc For $30B

Macbook Pro, on the Google search homepage. (Pixabay)

Google which is a huge tech company had reportedly offered to buy the social media giant known as Snapchat. The deal was around $30 Billion dollars. Snap's CEO apparently had no interest in selling to anyone.

It has been reported that Google was in informal talks with Snap and gave a large offer of $30B for the company. This happened right before the companies IPO this year. An IPO is an initial public offering. This is often a stock market term.

However, Snap's CEO Evan Spiegel apparently had no interest in selling to anyone. This was even despite the market cap for the company falling to $15B. However, before that, it was at $30B.

Snap has reportedly told TechCrunch "these rumors are false." Google's interest was quite possibly just a quick look over. However, we do not know at this time.

Snap's competition is currently high with Instagram slowing down growth because of their new Instagram's Stories. There are possibly other apps that also slow the growth rate of Snap by diverting users to their own app.

Snap went down a path to raise money instead of being acquired by another larger company, They did raise a lot of money. In fact, one company apparently invested $20B into Snap when they had the option during the raise funds period.

Having the two companies combine their forces might be a good idea. If a large company were to get Snap they would basically get a popular social media company and they would be able to tap into a large market for revenue. If this were to happen it would most likely be a technology company getting another tech company. They can use both types of hardware to make something awesome for users.

Snapchat is still a unique and useful app that is used by tons of people every day for their photos.

By Michael Normandin 

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