Silicon Valley investor Chris Sacca really regrets not answering an email from Snap CTO Bobby Murphy back in 2012.
That same year, Murphy and Snap co-founder and CEO Evan Spiegel inked their first deal with outside investors: Lightspeed Venture Partners invested $485,000 in a seed round, then participated in follow on funding rounds.
The young company would not be working out of that Palisades house Murphy invited Sacca to have lunch at for much longer — Lightspeed also gave the company office space.
When Snapchat first approached Sacca in 2011, he was put off by its image as a sexting app, he told CNBC in a December interview.
"The Snapchat guys came up to me after a talk once, and I said I'm really flattered but the pics of your junk... really? So I passed. Later I told my business partner ten years younger than I am and he lost his mind. (He said) 'do you realize what Snapchat is?' That probably cost me a billion dollars or two," Sacca told CNBC.