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.