The biz has also just signed a deal to spend $400m a year on Google’s cloud hosting over the next five years – that’s $2bn in total for the Gmail giant.
That’s an amazing chunk of spend for a hats on cats business. Hopefully, Ben Thompson’s theories that Snapchat is the new TV pan out.
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