Snapchat’s Gen-X Problem
February 23, 2018

“After a year-long spiral marked by the creeping deterioration of its stock price, last week Snap, parent company of Snapchat, finally seemed to have stanched the bleeding. The company announced in its quarterly earnings that it had added 9 million new daily active users and that its revenue had grown 104 percent year over year. Wall Street responded with a long-abandoned enthusiasm: Snap’s stock rose from $14 per share to $21 per share in 24 hours, nearly back to its original rosy opening price. (Today the euphoria has dissipated, but Snap is still hovering at about $18 a share.) The dramatic reversal was proof to some that Spiegel’s overhaul of Snapchat’s app, which he announced last year in the midst of the downturn, had paid off, finally fending off Facebook’s encroach and mounting accusations that Snapchat was old news. But in recent weeks, grassroots backlash to the redesign has reached such a pitch that it may backfire, hindering Snap’s growth at a pivotal moment.”

Read the Rest Over at Vanity Fair >

by Maya Kosoff , Contributor, Published February 12, 2018

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