Facebook also reportedly tried to buy Snapchat for $3 billion in 2013, but founder and CEO Evan Spiegel declined.
By the end of the decade, the industry has consolidated quite a bit. Following its acquisition of Instagram, Facebook bought messaging platform WhatsApp for $22 billion in 2014. Facebook also reportedly tried to buy Snapchat for $3 billion in 2013, but founder and CEO Evan Spiegel declined.