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VSCO adds three new advisors People on the Move 

VSCO adds three new advisors

GaryPageau , , , , , ,
Popular app maker VSCO announced the addition of three advisors from diverse backgrounds from innovative companies including Facebook, Pandora, Snap, Twitter, and more. Sriram Krishnan is a seasoned product leader and investor with deep experience building monetization businesses. He served as a key product leader at Twitter where he oversaw audience growth, home timeline, trends, search, onboarding and events among... Read More
Snap appoints Chief Financial Officer and Chief People Officer People on the Move Press releases 

Snap appoints Chief Financial Officer and Chief People Officer

GaryPageau
Derek Andersen Appointed Chief Financial Officer; Lara Sweet Appointed Chief People Officer May 20, 2019 04:55 PM Eastern Daylight Time – SANTA MONICA, Calif.–(BUSINESS WIRE)–Snap Inc. (NYSE: SNAP) today announced the appointment of Derek Andersen, currently Snap’s Vice President of Finance, as Chief Financial Officer. Mr. Andersen will take over the responsibilities of interim CFO Lara Sweet and report to... Read More
Snap announces first quarter 2019 financial results Events Press releases 

Snap announces first quarter 2019 financial results

GaryPageau
Daily Active Users increased 2% sequentially to 190 million First quarter revenue increased 39% to $320 million Year over year revenue growth accelerated to 39%, from 36% in the prior quarter SANTA MONICA, Calif.–(BUSINESS WIRE)–Snap Inc. (NYSE: SNAP) today announced financial results for the quarter ended March 31, 2019. Financial Highlights Operating cash flow improved by $166 million to $(66)... Read More
Snap introduces “App Stories” for third-party apps News Press releases 

Snap introduces “App Stories” for third-party apps

GaryPageau ,
Launch Partners Include Tinder, Houseparty, and AdventureAide Additional Snap Kit Integrations Announced with Anchor, Anghami, Breaker, Fitbit, GoFundMe, JioSaavn, Netflix, Venmo, and VSCO SANTA MONICA, Calif.–(BUSINESS WIRE)–Snap Inc. (NYSE:SNAP) today announced new Snap Kit capabilities and partnerships, including App Stories, which lets Snapchatters create custom Stories for partner apps, directly from Snapchat. Additionally, the company announced new partners across the Snap Kit ecosystem.... Read More
Snap announces fourth quarter and full year 2018 financial results Earnings reports News Press releases 

Snap announces fourth quarter and full year 2018 financial results

GaryPageau
Fourth quarter revenue increased 36% to a record $390 million Full year revenue increased 43% to $1.2 billion Daily Active Users were flat sequentially at 186 million February 05, 2019 04:10 PM Eastern Standard Time – SANTA MONICA, Calif.—Snap Inc. (NYSE: SNAP) today announced financial results for the quarter and full year ended December 31, 2018. Financial Highlights Operating cash flow improved... Read More
Snap Inc. reports first quarter 2018 results Events Press releases 

Snap Inc. reports first quarter 2018 results

GaryPageau
Snap Inc. Reports First Quarter 2018 Results VENICE, Calif.–(BUSINESS WIRE)– Snap Inc. (NYSE: SNAP) today announced financial results for the quarter ended March 31, 2018. First Quarter 2018 Financial Highlights: Three Months Ended March 31, Percent 2018 2017 Change (Unaudited) (dollars in thousands) Revenue $ 230,666 $ 149,648 54 % Net loss(1) $ (385,785 ) $ (2,208,837 ) (83 )%... Read More
Snap launches Spectacles 2 New Products 

Snap launches Spectacles 2

GaryPageau ,
Snap is trying the hardware business again, with the launch of Spectacles 2.0, an update of first-generation camera-enabled social glasses. The first version generated a lot of buzz, especially with Snap’s use of event and experiential marketing, but not a lot of sales, resulting in a $40 million write-down. Available in Ruby, Onyx and Sapphire colors, the $149.99 Spectacles 2.0 are... Read More
Adweek: Snapchat lays off 100 staff in advertising department News 

Adweek: Snapchat lays off 100 staff in advertising department

GaryPageau ,
According to Adweek, Snap‘s third-round of layoffs this year impacted 100 people from the advertising department. According to Laurie Johnson, Adweek’s senior technology editor: After cutting jobs for roughly 120 engineers earlier this month and 22 staffers across the company in January, Snapchat is downsizing its staff yet again—and its latest round of layoffs targeted its advertising department. Snap is... Read More
Analysis: What is up with Snap? Opinion 

Analysis: What is up with Snap?

GaryPageau , , , , , , , , , ,
Snap, the company, is an enigma. The company’s AR-powered social network/camera app is a phenomenon, yet the company itself isn’t turning heads. According to CNBC, Snap is laying off 100 engineers, accounting for 10 percent of the team. Not a great sign for an innovation-driven company. Previously, Snap has had layoffs in marketing, recruitment and content divisions. The news comes... Read More
Snap Inc. reports fourth quarter and full year 2017 results Earnings reports Press releases 

Snap Inc. reports fourth quarter and full year 2017 results

GaryPageau
VENICE, Calif.–(BUSINESS WIRE)– Snap Inc. (NYSE: SNAP) today announced financial results for the quarter and full year ended December 31, 2017. Fourth Quarter and Full Year 2017 Financial Highlights: Three Months Ended December 31, Percent Year Ended December 31, Percent 2017 2016 Change 2017 2016 Change (dollars in thousands) (dollars in thousands) (Unaudited) (NM = Not Meaningful) (NM = Not... Read More
Snap to let users share Stories outside Snapchat app News Opinion 

Snap to let users share Stories outside Snapchat app

GaryPageau ,
MarketingLand reports Snap will soon let non-users view Snapchat Stories on the web. Users will be able to share a limited number oif links to view Snapchat Official Stories, Our Stories and Search Stories on Snapchat’s site, which is a rebuke to Snap’s app-first strategy. “The new Story-sharing feature will be limited to some of the public Stories appearing in Snapchat’s redesigned Discover... Read More
Snap announces more layoffs News 

Snap announces more layoffs

GaryPageau ,
Snap has just laid off 22 employees, according to Engadget.  According to The Information, Snap’s content team has now consolidated operations in its Venice Beach, Calif., location, when it previously had members in both Venice and New York City. In recent months, Snap has struggled with user monetization, with slow adoption of its Snap Spectacles and concerns over its upcoming... Read More
Daily Beast looks inside Snapchat data and culture: It’s not pretty News Opinion 

Daily Beast looks inside Snapchat data and culture: It’s not pretty

GaryPageau , ,
Daily Beast writer Taylor Lorenz disclosed never-reported information about the culture of secrecy permeating Snap Inc. and the data regarding key features of its flagship app, Snapchat. Among the revelations: “The company operates in secret “need to know”-type bubbles, where many in sales, content, or non-engineering roles feel kept in the dark.” Employees routinely find out about Snap products and services in... Read More
Snap reports earnings, stock price plummets, redesign on the way Earnings reports News Opinion 

Snap reports earnings, stock price plummets, redesign on the way

GaryPageau , , 1 Comment
Snap’s road to profitability hits bump as Spectacle sales stall Snapchat app and Spectacles maker Snap Inc. still hasn’t told a story Wall Street  wants to hear, as the stock dropped 15 percent after the company reported disappointing third-quarter results (shown below). Snap revenue was up 62 percent to $207 million in the third quarter but losses mounted faster: $443 million... Read More