Six4three5
Tour Star...Layin' Up!
- Thread starter
- #51
See above. He turned down 4 previously.
Snapchat: Turning down 3 BILLON for a bigger payday?!
See above. He turned down 4 previously.
Agent Jay
Grandaddy Alumni
I saw this article the other day, and saw that they might have 4 Bill on the table already...so I can't blame him for playing hard ball.
Ah yes. It is important the the internet is written in ink, so to speak.
"Don't worry baby, the pic will be deleted if you use Snapchat..."
"Ok, I guess. Tee hee." *send*
*Alt+Print Screen*
Stupid kids.
giorgiokaan
Active member
Exactly what I was thinking, but I would have taken 3 billion all day.
Smallville
#ICanHitADraw
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Millions of accounts compromised in Snapchat hack
(CNN) -- Hackers appear to have posted account info for 4.6 million users of quickie social-sharing app Snapchat, making usernames and at least partial phone numbers available for download. The data were posted to the website SnapchatDB.info. By late Wednesday morning, that site had been suspended.
The hack was seemingly intended to urge Snapchat to tighten its security measures. The anonymous hackers said they used an exploit created by recent changes to the app, which lets users share photos or short videos that disappear after a few seconds.
"Our motivation behind the release was to raise the public awareness around the issue, and also put public pressure on Snapchat to get this exploit fixed. It is understandable that tech startups have limited resources but security and privacy should not be a secondary goal. Security matters as much as user experience does," the hackers said in a statement to technology blog TechCrunch.
In the statement, the hackers said they blurred the last two digits of the phone numbers they posted but were still considering whether to post more with the full number visible.
By Wednesday afternoon, developers had used the data to set up a website letting Snapchat users find out whether their accounts had been compromised. Snapchat did not immediately respond to a message seeking comment.
Last week, Gibson Security -- a group of "white hat" hackers, meaning they don't exploit the security gaps they find -- published what they said was code that would enable such a hack. The SnapchatDB group said Snapchat implemented "very minor obstacles" after that.
"We know nothing about SnapchatDB, but it was a matter of time til something like that happened," Gibson Security wrote Wednesday on its Twitter account. "Also the exploit works still with minor fixes."
In a blog post Friday, Snapchat appeared to minimize the potential damage from such a hack, claiming that it would require a "huge set of phone numbers, like every number in an area code," to match usernames to numbers.
"Over the past year we've implemented various safeguards to make it more difficult to do. We recently added additional counter-measures and continue to make improvements to combat spam and abuse," the post read. "Happy Snapping!"
http://www.cnn.com/2014/01/01/tech/social-media/snapchat-hack/
(CNN) -- Hackers appear to have posted account info for 4.6 million users of quickie social-sharing app Snapchat, making usernames and at least partial phone numbers available for download. The data were posted to the website SnapchatDB.info. By late Wednesday morning, that site had been suspended.
The hack was seemingly intended to urge Snapchat to tighten its security measures. The anonymous hackers said they used an exploit created by recent changes to the app, which lets users share photos or short videos that disappear after a few seconds.
"Our motivation behind the release was to raise the public awareness around the issue, and also put public pressure on Snapchat to get this exploit fixed. It is understandable that tech startups have limited resources but security and privacy should not be a secondary goal. Security matters as much as user experience does," the hackers said in a statement to technology blog TechCrunch.
In the statement, the hackers said they blurred the last two digits of the phone numbers they posted but were still considering whether to post more with the full number visible.
By Wednesday afternoon, developers had used the data to set up a website letting Snapchat users find out whether their accounts had been compromised. Snapchat did not immediately respond to a message seeking comment.
Last week, Gibson Security -- a group of "white hat" hackers, meaning they don't exploit the security gaps they find -- published what they said was code that would enable such a hack. The SnapchatDB group said Snapchat implemented "very minor obstacles" after that.
"We know nothing about SnapchatDB, but it was a matter of time til something like that happened," Gibson Security wrote Wednesday on its Twitter account. "Also the exploit works still with minor fixes."
In a blog post Friday, Snapchat appeared to minimize the potential damage from such a hack, claiming that it would require a "huge set of phone numbers, like every number in an area code," to match usernames to numbers.
"Over the past year we've implemented various safeguards to make it more difficult to do. We recently added additional counter-measures and continue to make improvements to combat spam and abuse," the post read. "Happy Snapping!"
http://www.cnn.com/2014/01/01/tech/social-media/snapchat-hack/
Six4three5
Tour Star...Layin' Up!
- Thread starter
- #57
Well apparently it was a good move on their part and if I were them I'd be 7 billion dollars less richer than they will be...
http://finance.yahoo.com/news/snapc...-smart-as-alibaba-weighs-stake-161915766.html
http://finance.yahoo.com/news/snapc...-smart-as-alibaba-weighs-stake-161915766.html
The most interesting part of the linked article:
"Whether Snapchat deserves a $10 billion valuation is still up for debate. The company is in the early stages of building its business and makes little to no revenue. What it does have is an increasing user base -- while Snapchat handled 200 million "snaps" daily as of November, that had jumped to 700 million by May."
10B for a company with no revenue...amazing.
"Whether Snapchat deserves a $10 billion valuation is still up for debate. The company is in the early stages of building its business and makes little to no revenue. What it does have is an increasing user base -- while Snapchat handled 200 million "snaps" daily as of November, that had jumped to 700 million by May."
10B for a company with no revenue...amazing.
Not really in the age of the Internet. Whatsapp was sold for $19 Billion. They are not buying the service, they are monetizing the users.
Basing a value on users and not revenue dollars is a recipe for disaster imho. Users != dollars. It's a very interesting state of things that a company can be valuated that highly with little to no revenue. Also makes me want to make an app fast. hahaha
Yeah, I understand the concept...web service as an ad clearinghouse. I haven't seen or used the ad so I'm not up to speed on what it collects, but obviously the investors are. FWIW I'm not sure Whatsapp is the right comparison...I believe the are a for fee service that rejects the ad clearinghouse approach.
Squints
Member
My problem is that I don't really know how they'd be able to monitize the users in a fashion to warrant that type of valuation. I have trouble believing that ads on Snapchat would a) Be worth enough to warrant the valuation or b) not piss off users so much that they move to another social media outlet.