Track topics on Twitter Track topics that are important to you
Snap was hailed as the next Facebook. It is starting to look like the next Twitter. Alright, perhaps that’s unfair. But in its latest earnings report, Snap (formerly Snapchat, which remains the name of the company’s app) announced some awfully Twitterish news. User growth has declined and quarterly losses tripled, compared to the same period last year. The company is on pace to lose more than $1 billion in 2017 (not counting nearly $2 billion in one-time costs related to its initial public offering). After the announcement, the stock price for Snap slumped more than 10 percent, bringing it down to roughly half its post-IPO high.
Original Article: Is Snapchat Doomed?NEXT ARTICLE