Snapchat CEO Reveals Why He Rejected Facebook's $3 Billion Offer
Geege Schuman stashed this in Snapchat
“There are very few people in the world who get to build a business like this,” Evan Spiegel told Forbes for a cover story profiling the cofounder and CEO, which was published online Monday. “I think trading that for some short-term gain isn’t very interesting.”
He owns 25% of Snapchat.
Therefore he believes $750 million is a "short-term gain".
Sad:
he has already taken some millions off the table, so he has money.
So then he explained himself incorrectly.
The truth is that he ALREADY took a short-term gain so why would he need more.
A few million for the founders provided enough of a principal life savings that they can then go for the home run without *that* worry. I would say that a $3 billion is a home run, and now they must be going for self-entertainment ala Mark Zurkberg.
Put another way, he's in it for the experience, not the money.
or. he realizes he has enough* money so he can focus on the experience #moremoneylessproblems
7:41 AM Jan 08 2014