‘Shark Tank’ Investor Chris Sacca Shares An Email Snapchat Sent Him In 2012 That He Regrettably Ignored
Snapchat’s recent IPO made a lot of people stupid rich. The IPO pushed the value of Snapchat to over $30 billion, despite it not making a cent in profit and losing $515 million in 2016. However, Snapchat sees over 2.5 billion snaps per day and the average user opens the app 18 times per day, a level of engagement that will undoubtedly have brands salivating.
Co-founders Evan Spiegel and Bobby Murphy made $272 million each from selling some of their shares, and now their net worth hovers around $5 billion based on the stocks first-day closing price. They are just 26 and 28-years-old, respectively.
One person who will not have the luxury of bathing in the Snapchat cash is Shark Tank special guest Chris Sacca. Sacca tweeted out a screenshot of an email that Snapchat co-founder Bobby Murphy sent him five years ago, one that he ignored. Regrettably.
In a December interview with CNBC, Sacca revealed why he didn’t pay any mind to Snapchat in its infancy stages. The short answer: nudes.
“The Snapchat guys came up to me after a talk once, and I said I’m really flattered but the pics of your junk… really? So I passed. Later I told my business partner ten years younger than I am and he lost his mind. (He said) ‘do you realize what Snapchat is?’ That probably cost me a billion dollars or two,” Sacca told CNBC.
Wow, what kind of LOSER takes a pass on a trillion dollar company?! Oh wait, BroBible did. Fuck.
Here’s our editor Brandon Wenerd talking about the one that got away. Props to Brandon for not breaking down in tears on air.
I could have been riding on a unicorn in Paradise right now, but instead I’m sitting in my cockroach infested apartment. Oh, the choices we make.
[h/t For The Win]