I am not sure if anyone actually read the article, but I think he made a smart move for his business. Facebook was making an offer of $1B, then recently increased it to $3B. One e-commerce company is valuing the company at $4B, not surprising considering Facebook decided to triple its offer over a relatively short time period. With the growth that the company is currently seeing (nearly doubling in three months) it would not be surprising it would increase even more by early next year which is the time period that Evan Spiegel, the owner, was talking about selling. Much like Twitter, this company is unprofitable, and I personally don't see the value that the markets have been putting into these tech companies but it still probably a good choice on his part.
An owner making a decision (and a relatively good bet in my opinion) for his company that he believes will increase its worth seems pretty mustachian to me. It is being patient for greater term gain.