SnapChat notoriously denied Facebook Inc.'s (NASDAQ: FB) $3 billion offer when they were only three years old. At age four SnapChat could possibly be valued at $10 billion. This type of growth would be completely unexplainable to a businessman pre-digital age. “What do they sell?” He’d ask. Well they sell an incredibly small amount of ad space and also some data they mine about their users. Their yearly revenue is arguably nothing.
How Fast Tech Companies Grow: The Race To A Billion Dollars
Infographic source: The Guardian
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