Snapchat Makes Money Disappear

I'll bet these guys are regretting turning down that $3 billion buyout offer from Facebook a couple years ago. How can you run a business losing this kind of money?

Advertising. But Snapchat has been advertising since last year—and the internal financials obtained by Gawker show that between January and November of 2014, the company lost a whopping $128 million while bringing in just $3 million in revenue.

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