Snapchat has been in the news recently, apparently because it has a few potential suitors who’re willing to put up billions of dollars. Now why would these companies want to pay so much for a service that’s not generating any revenue at all right now? Perhaps because it has the potential to generate revenue by leveraging its immense growth. Snapchat has now passed Facebook in photo uploads, users are uploading more than 400 million snaps and video messages every single day as opposed to Facebook’s 350 million photo uploads.
Even though the comparison isn’t exactly spot on, given that the 400 million figure includes both photos as well as videos and Snapchat hasn’t given exact figures for both, it is possible that the service may have an edge on Facebook when it comes to just photo uploads. Another thing to consider is the fact that Facebook has over 1 billion users, Snapchat doesn’t have that many, but its few hundred million users are almost equalling the photo upload activity on the world’s largest social network. Perhaps that’s why Facebook was willing to offer as much as $3 billion in cash for Snapchat, which it turned down. Google is said to have outbid Facebook by offering $4 billion, but Snapchat turned Mountain View down as well apparently. They’re in no mood to sell, because if these figures are legit, then the folks at Snapchat are certainly of the view that they’re worth more than $4 billion.