On the other hand, I personally think the chances that Snapchat (or its technology) will be acquired down the road are a lot higher than either Campbell or Chlorox.
I'm guessing you think that because you didn't experience the dotcom era first hand. Companies that have raised huge sums of money can go under. It's not happened recently but when it does it'll be horrible to watch. I'm not suggesting that we're in a bubble either - the fact is that companies die for a bewildering variety of reasons, and it is inevitable that one or more of the unicorns will die eventually.
Well, Clorox was acquired by Procter & Gamble in 1957 and then divested. Campbell Soup in the UK was acquired in 2008. So acquisition odds are higher than you'd think.
You may think that food companies are boring, but there are a lot more acquisitions, spinoffs, and mergers of food companies than you'd think. Take a look at http://en.wikipedia.org/wiki/List_of_ConAgra_brands and consider that there are multiple acquisitions behind most of these. Kraft has gone through too many mergers, acquisitions, and takeovers to even try to explain. http://en.wikipedia.org/wiki/Kraft_Foods
Anyway, my point is that it's not just the computer industry where acquisitions are happening for billions of dollars.