Facebook recently offered $3 billion to a 23-year-old CEO of a company that makes no money.

And he said no.

In its latest attempt to maintain its grip on teens and pre-teens everywhere, Facebook attempted to acquire the popular picture-sharing app Snapchat.

In case you’ve been living under a rock, Snapchat allows you to send pictures to other users that are automatically deleted after a set period of time.

Though the app runs no ads and therefore makes no revenue, investors see potential in the app’s growing popularity among teenage Americans.

It might sound crazy to turn down $3 billion when your company makes no money yet, but there’s a lot of reasons to believe that Snapchat has nowhere to go but up.

Meanwhile, this news combined with Facebook’s $1 billion acquisition of Instagram last year is making Mark Zuckerberg look more and more paranoid.