No.

Most companies are conceived with an explicit exit strategy in mind from day one, and that strategy is usually:

  SELL OUT TO THE HIGHEST BIDDER AS FAST AS POSSIBLE, AND
  RETIRE EARLY, WHILE SOME OF US ARE STILL YOUNG ENOUGH TO 
  ENJOY LIFE.

You might have a point if they hadn't previously turned down a $1billion bid from Google.

How does a rejection of a significantly smaller offer disprove the point?

$1B isn't a small offer, though.

It just means they were hungry. 1B is a relatively small offer in the world of IT IPOs nowadays.