The departures are part of an exodus from Snap’s executive team that has shaken investor confidence and put renewed pressure on Mr. Spiegel to stabilize the firm’s leadership. Earlier this week, Tim Stone, the company’s chief financial officer, stepped down after less than a year on the job and weeks before the company is set to report 2018 earnings
Earlier this year, Snap Inc. SNAP chief Evan Spiegel was pressing his team to launch a redesign of the company’s Snapchat app. The executives and designers repeatedly responded with an urgent message: We need more time.
Snap closed below $5 per share Friday for the first time ever, a new all time low. The entire market dropped on fears of a government shutdown and Wednesday’s announcement of rate hikes by the Federal Reserve.
Snap Inc (SNAP) has pinned its hopes on the over-35 crowd to revive user growth for its photo messaging app, a shift ad buyers said could backfire.
The new glasses, said to be codenamed Newport, will sell for $350, more than twice what the original version cost. Extra camera, will bring an augmented reality layer onto the glasses, adding 3-D-like photo effects to footage taken by the glasses.
Snap said it believes that the federal regulators “are investigating issues related to the previously disclosed allegations asserted in the class action about our IPO disclosures.”
StockMarketNews.Today – In a survey of 5,844 college students from 11 US institutions, 89 percent said they got at least some of their news from social media over the previous week.