Snapchat Co-Founder Evan Spiegel Turned Down $3 Billion Offer From Facebook

Entrepreneurship in a young age is a dream for many people who wants to launch a startup which could turn into money making machine. If you get a offer of $3 billion for your startup what would you do, For many people , they would blindly make a confirm deal. But let me tell you , everyone is not like that. A story of a young 23-year old entrepreneur will amaze you. Snapchat’s co-founder Evan Spiegel is strong enough to turn down an offer of $3 billion from Facebook. This young guy was not interested in $3 billion offer. Some reports indicates that Evan Spiegel was hopping for a better one , but still $ 3 Billion is a heck of cash. In my opinion, Evan Spiegel might have judged the future of Snapchat , or the startup might be pushing some new features in the application in future which might boost the number of users.  Currently, Snapchat isn’t generating any leads of revenue but has raised only $75 million form the investors. Below are some more interesting details about Evan Spiegel – the young entrepreneur confident enough to turn $3 billion offer from world’s top social networking giant Facebook.

• Spiegel was born in 1990, the oldest child of two attorneys. He was raised in a $2 million house in the Pacific Palisades neighborhood of Los Angeles.
• Growing up, Spiegel and his two younger sisters attended a private prep school in Santa Monica, Calif., where they were "assisted by tutors, some of whom charged up to $250 an hour."
• Spiegel was into all things geek but wasn't necessarily a geek himself. According to the report: "Yes, he was into computers as a kid, but he was just as proficient at snowboarding."
• In April 2007, Spiegel's parents divorced.
• By the time Spiegel hit high school he'd become an "expert party thrower," and then was made social chair of his fraternity at Stanford.
• At Stanford, his connections landed him opportunities to meet major players in tech, including Google chief executive Eric Schmidt and Chad Hurley, co-founder of YouTube. His mentor was Scott Cook, the chief executive of Intuit.
• The idea for the Snapchat was born from a conversation about sexting among his fraternity brothers.
• Spiegel dropped out a few credits shy of graduation to work on Snapchat full-time.
• Snapchat is headquartered in a bungalow on the Venice boardwalk.
• Without much media attention in the early days, Snapchat relied on word-of-mouth among teenagers. In February 2012, the app had 40,000 users and was processing 60 million messages a day. (Snapchat says it now processes more than 350 million messages a day.)
• At that point, Spiegel and his other co-founder were "maxing out their credit cards" to pay for servers, etc.
• A former frat brother of Spiegel's, Frank "Reggie" Brown IV, is suing Snapchat claiming he was an ousted co-founder who actually came up with the idea for an app that can send self-deleting photo messages.
• Spiegel, according to L.A. Weekly, has the "Silicon Valley habit of mentioning that he is leading a revolution." Despite how "revolutionary" Snapchat may or may not be, perhaps this explains why he might be holding out for more moolah.

Via – m.entrepreneur