Snapchat Rejected $3 Billion Facebook Acquisition Offer

Would have been Facebook's largest acquisition ever

(Reuters) - Mobile messaging startup Snapchat rejected an acquisition offer from FacebookInc that would have valued the company at $3 billion or more, according to a Wall Street Journal report on Wednesday.

Facebook representatives reached out to Snapchat in recent weeks to discuss the all-cash deal, which would have been Facebook's largest acquisition ever, the report said, citing anonymous sources.