Snap Inc.

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Snapchat Owner Is Decimating Workforce

Snap Inc. is laying off around 10% employees worldwide

(Newser) - The owner of Snapchat is cutting approximately 10% of its worldwide workforce, or about 530 employees, the latest tech company to announce layoffs. Snap Inc. said in a regulatory filing that it currently estimates $55 million to $75 million in charges, mostly for severance and related costs. It expects the...

2 Struggling Businesses Announce Major Layoffs

Bed Bath & Beyond is closing 150 stores, while Snap is discontinuing several apps

(Newser) - Two struggling companies announced major job cuts and other restructuring moves Wednesday—and their stock prices moved in opposite directions.
  • Bed Bath & Beyond. The retailer, known for its 20% off coupons, said it would cut its corporate and supply chain workforce by 20%, and its stock plunged 20% in
...

Kylie Jenner Tweet 'Wipes $1.3B Off Snapchat Value'

'sooo does anyone else not open Snapchat anymore?'

(Newser) - A single tweet from Kylie Jenner is being blamed for a 6% tumble that wiped around $1.3 billion off the stock market value of Snapchat's parent company. On Wednesday, the reality TV star tweeted to her 24.5 million followers: "sooo does anyone else not open Snapchat...

2017 Killed These Products, Startups

Including a $700 juicer

(Newser) - Think 2017 was rough? Try putting yourself in the shoes of people who spent their energy and fortunes building products and companies, only to see them fall by the wayside this year. BuzzFeed rounds up failed products and startups of 2017, including a $700 juicer and an early internet communication...

Snap's Futuristic Sunglasses Apparently a Massive Fail

Hundreds of thousands of camera-fitted Spectacles said to be gathering dust in warehouses

(Newser) - A misstep for Snap? Citing "two people close to the company," the Information reports hundreds of thousands of its camera-equipped Spectacles released last fall are sitting unused in warehouses because of low demand, despite CEO Evan Spiegel's recent claim that some 150,000 sales had surpassed company...

Big Question on Snap: Can It Rebound?
Big Question on Snap:
Can It Rebound?
THE RUNDOWN
May 11, 2017 12:04 PM CDT

Big Question on Snap: Can It Rebound?

Competition from Facebook could be an issue

(Newser) - It was a tough day for Snap Inc., and particularly CEO Evan Spiegel, on Wednesday. Snap stock plummeted 24% to $17.59 per share after the company's first quarterly earnings report since going public showed disappointing revenue growth and the slowest pace of user growth in years, reports Business...

Who Got Filthy Rich From Snap IPO: a High School, Millennials

Company's 26-year-old CEO is now looking at a $6B fortune

(Newser) - A California high school has made millions of dollars from the initial public offering of shares in Snap Inc., the company behind Snapchat. The board of Saint Francis High School in Mountain View agreed to invest $15,000 in seed money in Snap in 2012, when the company was just...

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