Blackberry Will NOT Sell: Tech Company BlackBerry Will Stay Public After $1 Billion Investment

It looks like Facebook and Lenovo will just have to wait to take their bids at buying the struggling tech company BlackBerry. The company just announced that they have received a $1 billion investment from Fairfax Financial Holdings and will be parting ways with CEO Thorstein Heins and other board members. John Chen will become the interim CEO until a new person is chosen for the job. Chen said, "I am pleased to join a company with as much potential as BlackBerry. BlackBerry is an iconic brand with enormous potential - but it's going to take time, discipline and touch decisions to reclaim our success."

BlackBerry was valued at $68 billion in 2008, but is now only valued at $3.5 billion 5 short years later. The stock fell an additional 11 percent today when the company announced that it would not be selling. BlackBerry has only sold 2.7 million of its new BlackBerry 10 devices so far this quarter.

BlackBerry claimed that they were going to have to lay off over 40% of their staff in an effort to stay in business, but over the last few weeks there has been a spark of hope in the BlackBerry offices. The BlackBery Messenger App for iPhone and Android has received around 10 million downloads since its release a week and half ago. Is this a sign of life in the Canadian company?

Let us know what you think in the comments.