Snapchat Might Really Be Worth $10 Billion
Drug use is on the rise in Silicon Valley: There are 1.4 million prescriptions for the opioid hydrocodone in the Bay Area (population 7 million), and ambitious tech workers are doing more and more street drugs such as cocaine, meth and heroin, the San Jose Mercury News recently reported. Current start-up valuations certainly look hallucinogen-induced. Ephemeral messaging app Snapchat, which has not made a cent in the three years since it was conceived in a frat house, is now reportedly worth $10 billion -- less than eight months after chief executive officer Evan Spiegel spurned a $3 billion takeover bid from Facebook.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Melania Trump Has a Bully-in-Chief Problem
- London's Uber Ban Is a Big Brexit Mistake
- Trump Slams the Brakes on Self-Driving Cars
- Trump Strikes a False Note at the United Nations
- The Constitution Is Passing the Trump Stress Test
- Wanted: Russia Experts, No Expertise Required
- Bet With Buffett, Not Against Him