New Delhi: If one morning Facebook comes knocking at your door and offers you a huge sum in return for one of your favourite things, would you part with it? If you are a commoner, may be yes. But, if you are the Snapchat chief, then certainly not.
One thing Evan Spiegal is asked all the time is why he refused Facebook’s $3 billion offer to buy his auto-destruct, photo-sharing service Snapchat, even when it did not make any money.
Spiegal, who gave a 10-minute commencement speech at the University of Southern California's Marshall School of Business, said that he is often reminded that had he accepted Facebook’s offer, he could have been on a boat full of cash.
People even labeled Spiegal and co-founder Bobby Murphy ‘arrogant’- a word often used to describe the millennials, a Mashable report notes.
The 24-year-old entrepreneur said the reason why he did not part with Snapchat for a boatload of cash is because he knew he had found his passion. He said, “The fastest way to figure out if you are doing something truly important to you is to have someone offer you a bunch of money to part with it.”
Had he parted with his passion, we would not have witnessed Snapchat’s success. Today, Snapchat is valued around $15 billion, despite all signs indicating it is not earning significant profit. The service reports over 100 million monthly users.
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