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Over 70% of Traders Think Snap Made the Wrong Decision to not Sell to Facebook in 2013
Ahead of SNAP’s Q3 results, new research* compiled by social trading platform, eToro, reveals that 73% of its traders think SNAP should have sold to Facebook when it had the chance.
eToro surveyed over 1000 of its users to establish their views on the social media company’s decision not to sell to Facebook back in 2013. An overwhelming majority answered yes to whether SNAP would have been more successful had they agreed to sell.
Iqbal V. Gandham, UK Managing Director at eToro commented:
“In the rapidly growing world of social media, clear winners and losers are beginning to emerge. Though SNAP was seen by many as the scrappy upstart nipping at Facebook’s heels a couple of years back, Facebook has repeatedly demonstrated its ability to capitalise on growing trends, often encroaching on the business models of its competition.
“With a disappointing performance since its IPO in March, many investors think that SNAP missed a trick in turning Facebook down. Though much can change in this volatile sector, for now it seems users are sceptical that SNAP will be able to fend off the social media giant for good.”
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