A couple of weeks back, Facebook made a $3 billion offer to purchase Snapchat. The mobile phone app’s founders/owners rejected the offer from the social media giant feeling that their service was worth more despite not having any real revenue.

Well, it turns out that Snapchat may have had a good reason for turning down Facebook. Recently released statistics show that there are more Snaps uploaded daily on Snapchat than photos uploaded on Facebook.

According to Business Insider, for the month of November, Snapchat users upload approximately 400 million “snaps” daily compared to 350 million photos uploaded to Facebook each day. Snapchat tracks snaps rather than individual photos so that upload figure may include videos instead of straight photos.

This means that Snapchat is bigger than Facebook in one metric. With selfie being named word of the year, it’s only appropriate that an app built around sending selfies has gotten bigger than Facebook and Instagram (55 million daily uploads) for posting selfies. Shockingly, Snapchat reported only 200 million daily uploads in June which means they had 100% growth in five months which is nearly unheard of anywhere.

So you can see why Snapchat feels that they may have been undervalued by Facebook since they move more photos than Facebook. That being said, Snapchat still doesn’t have a source of revenue. They should have taken the money and ran. I’m pretty sure you can buy a private island for that much. You could probably buy your own country with that money.

Source: Business Insider