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Snap Inc News
Snap returns to user growth on new shows, Android app; shares jump
Wed, Apr 24, 2019
Snap Inc on Tuesday beat Wall Street targets for quarterly revenue as its photo-messaging app Snapchat added users for the first time in three quarters.
Layoffs to save $34 million annually: Snap
Sun, Apr 01, 2018
Snap made the disclosure in a securities and exchange commission filing, technology website Variety reported late on Saturday. Earlier in the week, Snap confirmed that it laid off about 100 employees, with the cuts mostly affecting its sales team. This third round of layoffs came after Snap cut the jobs of a couple dozen employees across its hardware and recruiting divisions in 2017. This was followed by two dozen more cuts in January
Snapchat parent cuts 7 percent of its global workforce in March; says will lead to $25 mn in saving
Sat, Mar 31, 2018
Snapchat said it would incur about $10 million of cash expenditure due to severance costs to be reflected in the current quarter ending March 31. As a result of the layoffs, primarily in its engineering and sales teams, the company said it sees savings of about $25 million in 2018. The company had said it had 3,069 employees as of Dec. 31, 2017, according to its annual filing
Twitter reportedly working on Snap-like ad feature
Thu, Mar 15, 2018
Twitter`s feature would work in a similar way in Twitter Moments. However, it is unclear when the feature would launch and it could still be refined significantly or scrapped entirely, the report said. Twitter has been going after new advertising business after it posted its first profit.
Snapchat pips Facebook in Q4 2017 in US
Wed, Feb 07, 2018
Adding more daily average users, popular photo-sharing platform Snapchat reportedly grew faster than Facebook in the fourth quarter of 2017 in the US.
Copying Snapchat stories pays off as daily users of WhatsApp status, Instagram skyrocket
Fri, Aug 04, 2017
Daily active users of Instagram stories and WhatsApp status were reportedly much higher than Snapchat who first introduced the concept of posting 'stories.'
Snap's first earnings to shed light on battle with Facebook, Twitter
Thu, May 11, 2017
Investors delivered a stern message of disappointment to Facebook and Twitter when they posted debut quarterly scorecards following their IPOs. Twitter shares cratered 24 percent the following day, while Facebook`s tumbled 11 percent, drops that stand to this day as the biggest one-day losses for both.
Snapchat CEO's alleged comments makes the company poorer by Rs 1,923 crore
Tue, Apr 18, 2017
Although share price of Snapchat recovered a bit but ended the day lower by 1.24%
Snap surges after IPO banks give flurry of ''buy'' ratings
Tue, Mar 28, 2017
TD Ameritrade said Snap accounted for 7% of trading volume on its online platform during its first day of trading. As of last Thursday, almost half of its retail customers who bought the stock in the IPO have since sold their shares.
Apple drives further into Facebook, Snap territory with video app
Wed, Mar 22, 2017
Apple`s new Clips lets users post their video to Instagram, Facebook, YouTube, Vimeo and more. But if users post them to Apple`s own Messages app, Apple will recommend whom to share it with based on which friends are in the videos and whom the user frequently contacts - the kind of predictive social features Facebook excels at.
Millennial love for Snapchat extends to the stock
Sun, Mar 12, 2017
Snap sold shares at $17 a piece in its IPO on March 1.
Snap's stock price hard to justify - Barron's
Mon, Mar 06, 2017
Shares of the messaging app company closed at $27.09 on Friday, well above its IPO price of $17 per share set on Wednesday. The owner of Snapchat, an app popular with young people for its disappearing messages, raised $3.4 billion in its IPO.
Snapchat owner Snap raises $3.4 billion in IPO -source
Thu, Mar 02, 2017
The successful IPO pricing clears a major hurdle for Snap, which will go public without having yet turned a profit. The company`s losses widened last year, and it is experiencing decelerating user growth in the face of intense competition from larger rivals such as Facebook .
Twitter reports slowest quarterly revenue growth, shares slump
Thu, Feb 09, 2017
Microblogging website Twitter has reported slowest quarterly revenue growth for the fourth quarter ended on December 31, 2016.
Snap Inc goes public, seeks to raise $3 billion
Fri, Feb 03, 2017
Snap Inc, parent company of the fast-growing social networking app Snapchat, has made its long-awaited initial public offering (IPO) filing public, seeking to raise up to $3 billion.
Sony entertainment chief leaving to focus on Snapchat
Sat, Jan 14, 2017
Michael Lynton will step down from his job running the Japan-based company`s pictures and music business as of February 2 to spend more time as chairman of the board of Snap Inc., Sony Corporation said in a release.