Google reportedly wanted to buy Snap Inc. for $30 billion last year
It was back in 2013 when Snapchat was the hottest new social network on the block and the biggest companies in tech were circling them like sharks. Facebook was rumored to have thrown $3 billion on the table to acquire the company — only to get shot down — with Google reportedly making an effort to outbid Facebook with a $4 billion offer of their very own.
It’s been a years since then and those previous offers sound like small cakes after the successful launch of Snapchat Spectacles last year (the company’s first foray into selling actual hardware). Snap is still as hot as ever. So hot, that Google made another attempt to buy Snap last year, reportedly offering upwards of $30 billion to acquire the company. This was before Snap’s IPO earlier this year and according to sources, the deal is still very much on the table.
We all know Google has never quite figured out social (Google Wave and Google+ didn’t quite take off the way they planned) and with Google and Snap’s interest in camera equipped eye wear, it almost sounds like a match made in heaven. Snap has already denied these rumors, while Google has yet to make anything public. But news of the offer has already caused Snap’s share prices to climb 2.3%.
via Business Insider