Friday, October 5, 2018

Internal, 15-Page Memo Leaked From Snap's Evan Spiegel

An internal, 15-page memo issued by Evan Spiegel, the CEO and founder of Venice-based Snap, the parent firm of Snapchat, has been leaked to the press, bringing light to a significant number of Snap's plans to attempt to reach profitability in 2019. The memo--which was leaked to online site Cheddar-came as Snap's stock has set a new low. The memo also acknowledged that the launc of its redesign earlier this year "caused a lot of frustration" from its users, and also covers a number of other strategic initiatives in play at the firm.