San Francisco – November 2013
Month: November 2013
That Snapchat offer
There seems to be a lot of folks paying attention to Snapchat rejecting Facebook’s $3B offer.
Loosely speaking I’ve seen negative sentiments like
“This means Facebook is in trouble”
“I knew it, we are in a bubble”
“The Snapchat founders are nuts”
I don’t think it’s any of those things.
Consider Facebook’s stock is pretty high right now. They are flush with cash, profitable and can easily afford $3B for a leader in this new emerging market. And kudos to Zuck and co for taking bold moves. Their purchase of Instagram was extremely smart. This was a sensible offer, not one from desperation.
It is reasonable to assume that the Snapchat founders have already taken out millions of dollars in secondary sales of their stock. They are not risking losing it all, instead they are going for it.
I like this tweet by Aaron Levie. In less than 140 characters he summed it all up nicely.
No one rational would have turned down $3 billion for SnapChat. But, no one rational would have built SnapChat in the first place.
— Aaron Levie (@levie)
Snapchat’s future is up to them. They have to do a lot of things right. But they have an opportunity to build a big, important company.
Went to the BC game last night with Lauren and some close friends.
Decided to leave the Leica at home and brought along the Olympus OMD EM5 and my new 75mm lens.
The Back Bay and beyond.
New York Times Dealbook Conference
Earlier this week, David Karp and I sat down with David Carr from the New York Times.
Checking out the wonders of Mt. Davidson with Michael O’Neal and Tony Cross
Yesterday we watched Karl the Fog do his thing over San Francisco