Few say no to Mark Zuckerberg, especially when he's offering you $3 billion. In the case of Snapchat founders Evan Spiegel and Bobby Murphy, it turned out to be a prescient move.
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Snapchat's twenty-something founders are each worth ~$4 billion — more than Facebook offered to buy their whole company 4 years ago
Few say no to Mark Zuckerberg, especially when he's offering $3 billion. But for Snapchat founders Evan Spiegel and Bobby Murphy, it was the right move.
Evan Spiegel (left) and Bobby Murphy (right)
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Snapchat's parent company, Snap, is going public on Thursday, and each founder's stake in the company will be worth more than what Facebook offered for the entire company. Back in 2013, Facebook CEO Mark Zuckerberg offered $3 billion, which Spiegel turned down.
Snap priced its IPO at $17 a share, awarding the company a $24 billion valuation. According to its S-1 filings, Spiegel and Murphy own the most shares.
With a projected value of $17 a share, Spiegel will now be worth around$4.49 billion, the extra 3% of stock
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You can follow the latest news from Snap's IPO here.
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