Apparently, Sony’s leaked emails have revealed the whole story behind Snapchat’s rejection of Facebook’s acquisition offer of $3 billion. Last month, hackers attacked Sony Pictures Entertainment’s email system and stole massive confidential data which has leaked out this story among others.
According to Business Insider, the leaked emails suggest that the Facebook offer to Snapchat was even more than $3 billion. The information has come from emails between Snapchat’s CEO Evan Spiegel and Sony Pictures CEO Michael Lynton who is also on the board of Snapchat, and other Snapchat board members.
Malcom Gladwell sent an email to Michael Lynton asking if the company “was crazy to turn down $3 billion,” to which Lynton replied,” if you knew the real number you would book us all a suite at Bellvue.”
The leaks have also revealed an email written by another Snapchat board member Mitch Lasky saying that Snapchat CEO Spiegel would have gotten $1 billion if the Facebook-Snapchat deal had gone through.
According to the report, the email says, “Evan proposed a new deal today to Tencent and DST that includes $40MM in secondary for him and Bobby. Never told me … in fact told me the exact opposite. When I confronted him about it, he said, “well I just turned down a billion from Zuck.”
As per another email by sent by Lasky, Facebook CEO Mark Zukerberg blamed Snapchat for leaking the news about their deal to the press. It is said that Zukerberg was disappointed that the deal didn’t go through and accused Snapchat for leaking about the deal purposely to boost its fundraising efforts.
Sony’s leaked Emails reveal Snapchat turned down over $3 Billion Facebook offer
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