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Report: Snapchat Turns Down $3 Billion Offer From Facebook

socalTECH

In a very bold move, Venice-based Snapchat has apparently turned down a $3 billion acquisition offer from Facebook , according to a report today from the Wall Street Journal. snapchat merger acquisition exit facebook tencent mobile' READ MORE>>.

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Lawsuit Targets Snapchat Founders, Venture Investors

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A new lawsuit, targeting Venice, California-based Snapchat --the hottest company to emerge out of the area''s high tech startup cluster in recent years--says that the company''s founders stole the idea for the company from him after forcing him out of the company early on in its history. READ MORE>>.

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Snapchat's Spectacles Bot Makes Its First Move

socalTECH

Looking to buy one of Snapchat's new high tech Spectacles ? The new product, from Snapchat parent Snap Inc., is only available what Snap is calling the "Snapbot", a vending machine which moves from place to place selling its Snapchat specific, wirelessly enabled camera. READ MORE>>.

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Report: Snapchat Discussing IPO With Bankers, Eyes IPO Next Year

socalTECH

Venice, California-based Snapchat has begun discussing an IPO with bankers, but has yet to select an investment bank to lead the effort, according to a report on Wednesday. Snapchat reportedly is looking at an IPO towards the end of this year or in early 2017.

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Snaphat's Spectacles Bot Makes Its First Move

socalTECH

Looking to buy one of Snapchat's new high tech Spectacles ? The new product, from Snapchat parent Snap Inc., is only available what Snap is calling the "Snapbot", a vending machine which moves from place to place selling its Snapchat specific, wirelessly enabled camera. READ MORE>>.

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Snap Sees IPO Pop, Surges To Over $25.00 Per Share In Early Trading

socalTECH

Snap, the parent company of Snapchat , is now the largest ever IPO to debut out of Southern California's high tech ecosystem. The early pop in its shares pushes the net worth of Eval Spiegel and Bobby Murphy to more than $5.0 billion each. READ MORE>>.

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Southern California Firms Get $587.0M In Venture Capital In Q2

socalTECH

The biggest deal for the quarter was for Venice-based photo messaging app developer Snapchat , which raised a huge, $60M funding round in the quarter. By far, the largest investment category for the quarter was software--helped by Snapchat--with $177.872M in investments for Q2, according to the report. Photo courtesy of Bigstock.