Failure of Facebook to Acquire Snapchat For $3 billion

The buyout offer of $3 billion made for Snapchat Inc by Facebook Inc (NASDAQ:FB) has been rejected by the Internet startups (co-founder Evan Spiegel), as declared by the people having knowledge of the matter. Snapchat Inc was founded two year ago and has received several bids from prospective buyers and other investors, such as Tencent Holdings Ltd. Tencent Holdings Ltd is Chinese Web based organization and has offered $4 billion to invest in Snapchat Inc.

The company has no such business objective or sales alternative but the website of company has Smartphone app that distribute vast amount of messages, largely from young teenagers and adults that withdraw in 10 seconds or less.

It has been said by the source closed to the matter, it is expected that Snapchat Inc will look forward to takeover or an might be an investment approximately in 2014. But the representative of the company declined to comment. The co-founder is hopeful that his company will acquire an even higher valuation, further added by the source. As the number of users is growing and the existing users are encouraging which indicates that it is not likely to fade soon.

The statement of Snapchat Inc in September affirmed that its usage had roughly increased two folds to about 350 million messages that are normally known as “snaps” on a daily basis, as compared to increase in June with 200 million messages. However it does not expose any number concerning its number of users.

In the past the giant of US social networking has offered a bid over $1 billion in order to acquire the Snapchat, the source also exposed that representative for social networking giant has discussed their offer with company that it will give a complete cash offer that would be close to $3 billion, which will be the biggest acquisition of FB to date. Shares of Facebook Inc (NASDAQ:FB) were down by 0.39% to $48.52 in pre-market.

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Nokia has been designing a Windows Phone-powered phablet

Nokia has been alleged to be designing a Windows Phone-powered phablet for several months, to enlarge the upper echelons of its Smartphone portfolio and fight Samsung’s Galaxy Note line (the newest of which, the Note 3, was revealed only this week). Images asserting to portray a palm-stretching phone carrying Nokia’s branding have also reduced online before now but today prolific leaker @evleaks has revealed a press image in typical style of Nokia.The image depicts what’s evidently a bigger than usual Windows Phone, with sufficient screen real estate to display 11 x 6 rows of icons. The other prominent feature is the gently projected rear camera which appears to be the same as the PureView-branded 8.7MP lens of 925.

Nokia has not officially proved its phablet launch plans but the pattern of a rising flow of leaks is constant with other leaky Lumia release trajectories (like the Lumia 1020). It’s surely no secret that Nokia has been considering getting into phablet space on Windows Phone and doing so for an extended time. Back in February 2012 the corporation told TechCrunch that it was considering closely at the mid-size tablet market and also considering seeing whether it will catch on.

In the occasion, Samsung has sustained building drive in the category while Smartphone screens usually have exaggerated in size to try to compete with the trend for larger phones.  In the meantime Nokia has faced a rising battle trying to sell its smart phones in a market conquered by Android and iOS. Certainly it’s been such an effort for the company that, at the beginning of this week, it affirmed that it would be throwing in the towel by means of selling its Devices & Services unit to Microsoft for $7.2 billion and registering its brand name for adoption by Redmond on mobiles and smart phones.

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