The following video is from Thursday's MarketFoolery podcast, in which host Chris Hill and Motley Fool analysts David Hanson and Bryan White take a long Foolish look at the biggest investing news of the day.

Snapchat, a messaging service that allows users to send messages and images that display briefly before disappearing, has just rejected an offer from social media giant Facebook (NASDAQ: FB) to buy the company for $3 billion. In this segment, our analysts discuss whether it was a mistake for the young, revenueless company to reject such a large offer. They also look at the rising valuations of social media companies on the market today.

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Fool contributor Bryan White and Chris Hill have no position in any stocks mentioned. David Hanson owns shares of Facebook. The Motley Fool recommends and owns shares of Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.