Dr Herbert West writes "For those who don't know, the way Snapchat works is that you send a message—text photo, whatever—to a friend or group of friends. But instead of the message being persistent, it "disappears" rather quickly. The young 'uns like it because it's a superior method of sexting that doesn't leave yourself open to incriminating pictures of yourself circulating online.
The general consensus is that it's a mistake to turn down the offer since Snapchat has no revenue and doesn't seem like a promising ad service... but possibly the 23 year old founder may have felt that a threatening acquisition would ruin the platform (think Flickr and Yahoo).
Cash out early, or "dare to dream big"-- what do Slashdotters think?"
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