Although Snapchat is a private company, Mr. Zuckerberg invited 23 year-old Mr. Spiegel out for lunch. In that lunch, Zuck told him straight up he wants to buy Snapchat for $3 billion. Facebook, the behemoth it is, when Zuck has his sights on something - he very informally but directly goes towards it. This is fairly common in tech. Very informal acquisition talks that don't need to be relayed through both parties.
FUN-FACT: The kid turned down $3 billion. Today his company is now worth $25 billion - $35 billion.
Fundamentals have not changed..., page-222
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