You heard me. $3 billion. Cash. And they said "Nah". Snapchat is exploring a new funding round valued at about $4 billion. The offer was 3 times as much as Facebook successfully paid for Instagram. "Snapchat's refusal, unbelievable though it may be, suggests that the young company is getting exactly the terms it wants as it considers taking hundreds of millions of dollars in financing from investors. Snapchat co-founder and CEO Evan Spiegel probably won't consider an acquisition or an investment until early 2014, sources told the Journal. " $3 billion. Cash.