Google floated an offer of at least $US30 billion to buy Snap in early 2016, sources told Business Insider.
Three people, including people inside and close to the company, separately confirmed they had heard the chatter and price tag, with one calling it an “open secret” among Snap’s upper ranks and certain tech industry circles.
To read more about what sources told Business Insider about Google’s interest in Snapchat, click here.
In other news:
Brian Lesser, who oversaw billions in ad spending at GroupM, is leaving for a new job at AT&T. Lesser joins AT&T in this new role at an intriguing time, when the company is seeking approval of a
mega deal to acquire Time Warner —
one that could have massive implications for the media and advertising industries.
Millennials are killing the beer industry with their rosé obsession. The rosé category reached a valuation of $US389 million in January, Bloomberg reported, based on Nielsen data. Rosé consumption increased 57% in the last 52 weeks in dollar terms, while beer dropped 0.6%.
GoPro’s stock surged after cost-cutting efforts helped it beat analyst estimates for the quarter. Sales were up 34% on last year.
Trump’s FCC (Federal Communications Commission) is about to be at full strength. The US Senate unanimously voted to confirm two nominees to serve at the organisation on Thursday.
A small business just took on Amazon in a provocative window display that proves the e-commerce giant is the new Walmart. Once Walmart was the villain to end all villains when people complained about the trials and tribulations of being a small business owner. Now, as Amazon gains power, it is increasingly taking on that role.
A burger chain that Kanye West and Nicki Minaj are obsessed with is taking over America. On Thursday, fast-food burger chain Fatburger, with a cult following on the West Coast, announced it was exploring plans to go public.
Uniqlo will sell clothes out of vending machines in airports across the US. Called “Uniqlo To Go,” the machines will stock two of the most popular items from the brand’s “LifeWear” collection: a thermal heat-tech T-shirt ($US14.90) and a lightweight down jacket ($US69.90).
CBS has hired a former Facebook advertising exec to run its digital sales, reports Variety. David Lawenda will report to Jo Ann Ross, who was promoted from ad sales chief to president and chief advertising officer for the corporation.
Adidas’ bet on influecers like model Karlie Kloss and personal trainer Zanna van Dijk to bolster womenswear is working, reports Quartz. The sneaker brand said sales in its women’s business in North America grew 77% in the second quarter.
Business Insider Emails & Alerts
Site highlights each day to your inbox.