As soon as the news of a 23 year old guy rejecting a $3 billion offer from facebook broke out, the news spread like a viral fever. Before taking it any further let us know what snap chat service is all about. It is basically a type of image messaging service with the help of which one can send pictures online and delete them from the chat within ten seconds of sending. Till date, it transmits about 350 million snaps a day. The app became mainly popular among the teens as they regularly send sexual pictures of each other thus raising the demand for this app.
Well, the reason as given by the people at Snapchat suggests that the worth of the company is going to go up in the next few years and is hence, expecting a better offer than facebook. But another solid reason given by them is that they will be the first social media company ever to earn revenue without advertising. This can be a sign of impending danger for companies like Facebook and Twitter which currently rule the social media market. Moreover, it will also give tough competition to the newly introduced chat applications such as WeChat and Line.
There is no doubt in the fact that Snap Chat could be the next big giant eating out all the social media sites. However, only time will that.