Mobile messaging startup Snapchat reportedly rejected an acquisition offer from Facebook that would have valued the company at $3bn (€2.2bn) or more
The Wall Street Journal reported that Facebook representatives reached out to Snapchat in recent weeks to discuss the all-cash deal.
The deal would have been Facebook's largest acquisition ever, the report said, citing anonymous sources.
Facebook declined to comment.
Snapchat could not immediately be reached for comment.
Snapchat, an application which allows users to send smartphone photos that automatically disappear after a few seconds, has proven popular among teenage users.
The report of Facebook's interest in Snapchat comes a couple of weeks after Facebook, the world's number one internet social network, acknowledged that it was seeing a decline in daily use by young teenagers in the US, although it said overall use by teenagers was stable.
