GOOG: Google reportedly went after Snapchat too; Loeb discloses stake

Google reportedly went after Snapchat too; Loeb discloses stake • 5:28 PM

• A day after the WSJ reported Facebook made a rejected $3B or greater offer for Snapchat, Om Malik reports hearing Google (GOOG) offered $4B, and was also turned down.
• Snapchat, whose photo-sharing service is quite popular with younger U.S. smartphone users, is reportedly weighing an investment round led by China's Tencent that would value it at $4B, and wants to hold off on being acquired at least until early next year.
• 350M quickly-vanishing photos were being shared daily via Snapchat as of September, up from 200M in June and just 20M in Oct. '12. Much like Instagram at the time of its acquisition, the company doesn't yet generate any revenue.
• Meanwhile, Dan Loeb's Third Point LLC has disclosed it took a 110K-share stake (current value of $114M) in Google in Q3. The filing comes as Leon Cooperman's Omega Advisors discloses it liquidated its 4,850-share Google position in Q3.
• Previous: Google roundup

Read comments

New Follow our top articles @SAlphaTrending on Twitter

---

Why are you receiving this? You subscribed to real-time Market Currents alerts at Seeking Alpha.
If this email was forwarded to you and you wish to subscribe to this email, click here.

Manage your emails:
Get alerts on additional tickers and manage all your email alert choices here
I'm getting too many emails: manage your email alert choices
I'm no longer following GOOG: unsubscribe from all GOOG email alerts
This type of alert isn't helpful to me: unsubscribe from Market Currents (breaking news) alerts on GOOG

To ensure you receive these emails in the future, please add account@seekingalpha.com to your address book, contacts or list of safe senders.

Prices in this email are BATS Last Sale quotes.

Sent by Seeking Alpha, 345 7th Ave. Suite 1400 New York, NY 10001