Google Wanted To Buy Snapchat
Google Wanted To Buy Snapchat and might still be interested, Social networks are not the forte of Google, but not for lack of interest. Throughout its history, Google – now part of the digital conglomerate Alphabet – has tried to enter this market with its own products, as the Google +, as well as strategic purchases of start-ups.
Although in recent years has not taken great strides in this area, the networking giant seems to keep its ambition intact. According to Business Insider, the company even offered up to 30 billion in early 2016 by Snap, the company behind the Snapchat platform.
Deal Did Not Close
The deal did not close. Evan Spiegel, chairman of Snapchat preferred instead to make a new round of financing prior to the departure of the company on the stock exchange. This round, in May of 2016, valued the company at approximately 20,000 million dollars and Google participated in her like minority investor.
Almost a year later, Snapchat debuted in the parquet of the New York Stock Exchange with a capitalization of 24,000 million dollars. Since then, however, the price of the stock has plummeted due to stiff competition from Facebook, which has successfully copied many of the characteristics of the phantom social network. The company, now, has a valuation near the 15,000 million dollars.
Low Price & Slowed Growth Of Platform
According to Business Insider, the low price and slowed growth of the platform have not diminished Google’s interest in it. Talks surrounding a possible takeover remain open and the figure is still the same, close to $ 30 billion.
For Google, the control of Snapchat could be a new opportunity to face a Facebook that continues to grow and increasingly, represents a major part of the digital advertising market. Snapchat also has all of its infrastructure hosted within the Google Cloud platform, which would simplify the transition and control of the platform.
The final decision, in any case, depends on the founder and president Evan Spiegel, who maintains effective control of the company.
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