There are two digital ventures that pretty much rule our lives at this point: Google and Snapchat. Google is, of course, one of the true monopoly like juggernauts on the internet. They have their hands in on everything: technology, hardware, social media, applications, search engines and more. Snapchat is an old application by now, in terms of our concept of social media, but the company continues to impress as one of the most prominent and innovative social media platforms around. Would you believe that Google, the company that has it all, took a buying interest in Snapchat?
The interest that Google is showing Snapchat shouldn’t really surprise anyone. Google has gotten into the mobile phone game with their Google Pixel product. Google has also been trying to craft their own social media hangout for years — we’re looking at the corpse of Google Plus as one of those outcomes. Owning Snapchat would immediately put Google atop the charts of prominent social media outlets but it doesn’t appear that it will happen any time soon. Evan Spiegel is the CEO at Snapchat and he has been well known for his independence. If Google wanted their hands on Snapchat they’d have to go through him.
When Snapchat was IPO’d back in May the company was work a staggering $30 billion. Since then their shares have started to nose dive and the company is worth just $15 billion at the present point in time. News finally leaked that Google and Snapchat got close to a potential sale at the tail end of 2016, before Snap reached their final round of funding. Google reportedly offered the full $30 billion to take over the company. Snap tabled the talk and never went back to it. Google now is declining to comment on the story but the truth is out there.
Still, there mere fact that Google was interested in Snapchat at all has helped to make the company more valuable. After the offer was made public, Snapchat saw their shares climb an impressive 2.3%. while this is far from the game changing climb needed to keep Snapchat on the up and up, it is a good sign. Snapchat is going to need to continue this climb if they want to stick atop of the charts as one of the most used and important applications in the mobile phone pantheon. Is a partnership in the future for Google and Snapchat? Will they revisit their talks?