A company is worth the percentage it captures of the value it creates. You alluded to it in your comment--Snap has a much lower headcount and an order of magnitude less operating costs, so if anything it kind of makes sense that they'd be valued at a relative premium.
Also, you may not like Snapchat, but to say it deserves to die when it both a) employs real people and b) clearly serves a market need is such a terrible thing to wish for.
Also, you may not like Snapchat, but to say it deserves to die when it both a) employs real people and b) clearly serves a market need is such a terrible thing to wish for.