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Snapchat CEO Explains Why he refused Facebook’s Billions Dollars

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Evan Spiegel, Snapchat’s 24 year old CEO, spoken at the University of Southern California’s School on Friday.

Spiegel came up with the idea for Snapchat while when he was working on a class project at Stanford in 2010. He initially called it Picaboo at that time.

Spiegel left Stanford in 2012 with two of his fraternity brothers to develop Snapchat before he completed his degree.

During his very short speech at Friday’s commencement.He only spoke for ten minutes. Spiegel talked about his own graduation ceremony which was three years ago and in which he listened to Cory Booker speak,this was long time ago. Then Spiegel walked on the stage to receive an empty diploma case.

Spiegel said We do all sorts of silly things to avoid appearing different in whole graduation time.

being different meant was starting a new company and not completing his college education which was also important.

Why Spiegel refused facebook’s 3 billions of dollars ?

Spiegel decided not to sell Snapchat to Facebook for billions of dollars and that was good decision of him according to Spiegel.Facebook made him offer at least twice time but he didn’t accepted facebook’s billions of dollars offer. Spiegel says the question he receives most of the time was, “Why didn’t you sell your business?”

“The best thing is that, no matter you sell or not but you will learn something very valuable about yourself and that was great learning according to him. If you sell then you will know immediately that it was not the right dream which was sold due to money. And if you don’t sell you are probably onto something which is great.

“When we decided that we will not sell our business, people called us a lot of crazy things like arrogant and entitled but in reality i won’t want to sell for money. The same words that I have heard which was used to describe our generation time and time again which was important factor. Spiegel said that We have sense of entitlement, ownership because after all we were born into this world  and we are responsible for it.

 

Speigel advice:

Before leaving the stage, Spiegel imparted several advice to the young audience which was great thinking:

  • “The greatest thing which we can do is to provide the best possible foundation for those who come after us.”
  • “Have faith in yourself which we help you in life. Know that you will be capable of all the growth expected of you and also that you expect of yourself.”
  • “Someone will always have an opinion of you but don’t think about that too much. Whatever you do will never be enough so every step should be toward success. So find something important to you and also something you love.”
  • “You are going to make a lot of mistakes at start. Just apologize as quickly as you can and also pray for forgiveness which will make you happy.”
  • “You are going to face a challenge on every step, a full time job which will never end. The hardest part is going to be getting used to solving problems that don’t have answers and which need to be solved.”
  • “I beg you to remember that it is not possible to know the end results of our efforts so hard work and don’t think about result.”
  • “Please voice your dissent. Anticipate your erasure. And find something which you are not willing to sell at any time.”

 

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Tayyab Tariq

The author Tayyab Tariq

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