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Mr Z

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Medial • 2m

Facebook offered him $3 Billion for his company. He turned them down. Now, his company is worth 5x what Facebook offered. 5 lessons from the crazy story of Evan Spiegel: Imagine being 23 and turning down $3 billion. Most would call you crazy. Your co-founders might even sue you. But now, Snapchat's worth between $15-30B (based on its market cap this year). The real story is wilder than you think... 2011: Spiegel launches Snapchat as a college project. Facebook offer: $3 billion in cash. Spiegel's response? "Thanks, but no thanks." Why would he do that? The answer reveals everything about Spiegel's character... 1. Double Down on Innovation When everyone said "pivot," Spiegel went all-in on his vision. 2. Focus on the Core User While Facebook chased everyone, Snapchat zeroed in on Gen Z. 3. Embrace Privacy He refused to sell user data or compromise on privacy. 4. Spot Trends and Capitalize Spiegel saw a major trend that allowed Snapchat to succeed.

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