In last week’s article, The Ghost of Snapchat, I detailed how Snapchat CEO Evan Spiegel made a $3 billion dollar mistake by rejecting Mark Zuckerberg's buyout offer. The pending release of “Slingshot,” Facebook’s (FB) version of the Snapchat application, combined with the company's massive user base, displays how Snapchat’s monopoly over “disappearing” photo-sharing services is on the decline.
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The $5 Billion Mistake
Last week, social media website Pinterest announced it had raised $200 million in new funding. These new monies increased Pinterest’s valuation from the $3.8 Billion mark, reported in October of 2013, to $5 Billion. But, is the company actually worth this much, or is this simply another ridiculous Silicon Valley appraisal (read more about what drives irrational investing here)?
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The Ghost Of Snapchat
In November of last year, Snapchat, the popular “disappearing” photo-sharing app, turned down a $3 billion all-cash buyout offer from Mark Zuckerberg’s Facebook (FB). Evan Spiegel, the CEO of Snapchat who would have personally received about $750 million from Facebook, inexplicably stated, “I think trading for some short-term gain isn’t very interesting.”
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Google, YouTube... & Twitch?
YouTube, a subsidiary of Google (GOOG), is completing a deal to buy popular online video streaming website Twitch. The deal, valued at more than $1 Billion, would be the most significant acquisition by YouTube in its short history. Although no official statement has been released, sources close to YouTube have reported that the deal is imminent, despite Twitch’s public relations director stating that “Twitch does not comment on rumors."
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Beats By Apple
In case you’ve been living under a rock for the past week, or studying for finals, you should know Apple (AAPL) is currently pursuing a deal to acquire Beats Headphones. Made iconic by celebrity co-founder Dr. Dre, and countless athletes, Beats headphones have become a popular consumer device among young Americans. If the deal were to go through, Apple would spend $3 billion of its cash reserves.
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Sprint, Your New BFF
Wireless telecommunications provider Sprint (S) aims to expand its share of the cellular services market by acquiring T-Mobile (TMUS), the fourth largest cell carrier in America. This move would not only cement Sprint’s position as the third largest American carrier, but would also increase its mobile spectrum, allowing Sprint to better compete with Verizon (VZ) and AT&T (T), the top two American market leaders.
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Tinder, Spark Your Relationship
Recently, there has been a flurry of iOS dating applications, many of which belong to major dating websites eager to reach their customers through an alternative medium. These applications, although extremely popular, maintain a certain negative appeal. Thus, serious dating companies, like Match.com (a subsidiary of IAC), have updated their iPhone applications to emulate the design of socially acceptable apps, such as Tinder.
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