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Prof. Aswath Damodaran discusses Snapchat's value

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Excerpt from The Washington Post -- "'It's like a waterfall: If you think Facebook's worth $110 billion, then Twitter's worth $50 billion, and Snapchat's worth $4 billion,' says Aswath Damodaran, a finance professor at New York University's Stern School of Business. 'If you change your frame of reference, are they paying because they think it's worth $4 billion, or are they paying because they think they can flip it to someone else to $6 billion? As long as I can sell it to someone else for more in six months, who cares what it's really worth?'"

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