Profile of SnapChat, and turning down billions

FORBES estimates that 50 million people currently use Snapchat. Median age: 18. Facebook, meanwhile, has admittedly has seen a decline among teenagers. Its average user is closer to 40.

“I can see why [SnapChat is] strategically valuable,” one leading venture capitalist tells FORBES. “But is it worth $3 billion? Not in any universe I’m aware of.

Profile of SnapChat, and turning down billions