Friendster was essentially the pioneer of social networking and expected to become a huge hit. 7) Friendster rejects $30 million offer from Google (2003)įounded in 2002, Friendster fielded an offer from Google in 2003 for $30 million. One business analyst believes that Foursquare will fail by the end of this year and will be forced to sell for less than $50 million. As time passed, other geotagging apps sprang up – like Gowalla and Spindle – and sold for far less. Both Facebook and Yahoo! offered Foursquare CEO Dennis Crowley buyout offers, but Crowley rejected both in favor of a higher asking price. In 2010, Foursquare was at the forefront of social networking and one of the first sites that existed entirely on a mobile platform. 6) Foursquare rejects $200 million offer from Yahoo! (2010) The company received a valuation of over $24 billion. The company, which set its IPO pricing at $26 per share, saw its share price soar to $45.10 because of strong investor demand. Second, Twitter had high hopes for a secret revenue model that they hoped to launch in 2009. Twitter believed Facebook’s valuation was inflated, meaning the stock was far less valuable than Facebook claimed. First, Facebook’s offer was an all-stock offer, and Twitter wanted cash. Twitter rejected the offer for a couple of reasons. In 2008, Twitter’s popularity was on the rise, and Facebook quickly jumped at the chance to buy the company. 5) Twitter rejects $500 million offer from Facebook (2008) Instead, Facebook made a deal with Microsoft to acquire the company’s Atlas Solutions, an ad-serving product Microsoft purchased in 2007.
Zuckerberg eventually rejected the Yahoo! offer. Yahoo! was quickly losing the interest of its younger demographic and saw Facebook as its last chance to catch the attention of wide-eyed youngsters. Later that year, Yahoo! entered the picture and made an offer of $1 billion to Facebook. Early in 2006, Viacom offered Facebook $750 million Zuckerberg raised his asking price to $2 billion, and Viacom snubbed the deal. When Zuckerberg insisted on an asking price of $75 million, DeWolfe balked. In 2005, Zuckerberg was in negotiations with MySpace CEO Chris DeWolfe about a Facebook buyout. In the early days of Facebook, Mark Zuckerberg confronted offers left and right. 4) Facebook rejects $1 billion offer from Yahoo! (2006) Rovio rejected the offer, and Zynga moved on to greener pastures in the mobile-game network. Zynga offered $2 billion to Rovio Entertainment Oy, the Finnish company that brought us the ever-addicting Angry Birds game. Given the popularity of web games like FarmVille and CityVille in 2012, Zynga was on the hunt for the next big thing in social games. 3) Rovio rejects $2 billion offer from Zynga (2012) After the rejection, Groupon’s popularity waned and its profits bottomed out. Google offered the company a $6 billion buyout, and Groupon CEO Andrew Mason rejected the offer. At the time, the company was gathering more than $1 billion in annual revenue. Naturally, Google shifted its gaze to Groupon, whose network had spread through North America, Latin America, and Europe. 2) Groupon rejects $6 billion offer from Google (2010)Īs Google’s global presence skyrocketed, the company sought to tap into local markets of the mom-and-pop variety in order to bolster profits. Unfortunately, after the rejection, Yahoo! stock plummeted, Yang left the company, and Microsoft moved on. Yahoo! co-founder Jerry Yang felt the offer was too low and rejected Microsoft’s bid. In a last ditch effort, Microsoft rushed to defend against a Google global takeover by offering to buy Yahoo! for $44.6 billion. In 2008, Google was on the rise, and there was nothing anyone could do about it. 1) Yahoo! rejects $44.6 billion offer from Microsoft (2008) Here are eight more tech companies that rejected huge buyout offers. This week Snapchat founders Evan Spiegel, 23, and Bobby Murphy, 25, made headlines by rejecting a reported $3 billion offer from Facebook. They're holding out for something better.
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