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Thursday
Aug032017

Google reportedly wanted to buy Snap for US$30 billion

While it isn’t the first time it’s happened, it seems Facebook wasn’t the only one after Snapchat’s parent company Snap Inc. Google reportedly wanted a piece of the incredibly popular pie and tried to buy the company for US$30 billion. According to Business Insider, Google verbally talked about the acquisition of Snapchat with the company’s CEO Evan Spiegel. Snap is denying that formal discussions happened. Google also won’t comment on the story. According to the report though, the offer was supposedly still on the table since the company’s IPO early on in March.

Whether or not there’s truth to this, Spiegel is known to like being in charge of his own company, especially with a product he started himself. It would’ve benefited Snapchat on the marketing side if they took the deal and Snapchat would’ve helped Google develop its AR technology. But in the meantime, Snap and Google do work close together. Google’s investment arm put money on Snapchat after it went public. While Snap is considered one of Google Cloud’s biggest customers and they promise to spend US$2 billion on Google’s cloud platform.

Source: GSMArena + 9to5Google

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