David Rosenthal: belief

Transcript context

…All right. Sweet. So, acquisition category. I was torn on this and here’s how I’ll frame it. If they had actually gotten the acquisition done when they did or when they made the offer, that would have been a product acquisition. They were buying one single product that people all over the place were using in the exact same way. At this point, it would be a business line. It is many products rolled into one. I mean, they’ve got stories and discover and the traditional Snapchat model and they have several different add units that they sell in there and those are all different products for advertisers. And I think that at this point is it would be like the Snapchat business unit of Facebook rather than “hey, we bought this one-off app, it has a lot of people using it like WhatsApp.” It would truly be like they would need their own ad sales team. They would need a lot of things that wouldn’t be able to be factored in to Facebook. Yeah, I think that’s right. The only counterpoint I’d offer is maybe had this actually happened and had Facebook done its thing and just left it alone and all the growth and innovation that’s happened at Snapchat had also happened, I think you can almost argue that this would be a new category which would be like a wholly independent company within another company. Yeah, and then okay so……

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