Tuesday, November 5

Tag: Evan Spiegel

Snapchat Will Sack More than 120 Engineers
10Mar By Sheldan RungasamyNo Comments
News

Snapchat Will Sack More than 120 Engineers

Snapchat parent company, Snap Inc, sent a memo to employees on Thursday stating they were going to lay off 120 engineers from their team and reorganize it, according to Reuters. The maker of the smartphone app popular for disappearing images has had a rough start to the year 2018 and are now under pressure from investors to reduce spendings after analyst expectations during Snap’s first year as a publicly traded company came short of the predicted figures. The company based in southern California will, however, offer a package of benefits to all those getting the sack, according to the memo from Jerry Hunter, senior vice president for engineering. It is still unclear who are those who will be laid off and Snap scheduled a staff meeting for March 14 to explain the reorganization and a...
Read More
Snapchat Stock Falls as Alleged CEO Comments on India
18Apr By AdityaNo Comments
News

Snapchat Stock Falls as Alleged CEO Comments on India

Shares of Snap fell 1.5 percent as the Snapchat owner faced criticism for comments allegedly made by its CEO about not prioritising growth in India and Spain because they were "poor" countries. The dip put Snap on track to close at its lowest level in nearly a month, a bad sign following its $3.4 billion public listing that was the hottest by a technology company in three years. Twitter users using the #boycottsnapchat hashtag called for uninstalling the Snapchat app after a legal document unsealed last week alleged that Snap Chief Executive Evan Spiegel in 2015 said he was uninterested in prioritising growth in India and Spain because they were "poor". The legal document filed in a Los Angeles state court concerns claims made in a lawsuit filed by an employee who left the company...
Read More
Snapchat App is For Everyone and We are “Grateful” To Have Indian users: Official
17Apr By AdityaNo Comments
News

Snapchat App is For Everyone and We are “Grateful” To Have Indian users: Official

Snapchat today refuted the reported claims of a former employee who alleged that its CEO Evan Spiegel made negative comments about the Indian market, saying the multimedia mobile app is for everyone and the company is "grateful" to its Indian users. "Obviously Snapchat is for everyone! It's available worldwide to download for free," a spokesperson for Snapchat said in a statement to CNN. Snapchat is strongly denying allegations by a former employee Anthony Pompliano, who alleged in a lawsuit that Spiegel had once shot down his suggestion to pursue growth in certain international markets. Pompliano alleges that Spiegel said Snapchat is "only for rich people" and that he didn't want to "expand into poor countries like India and Spain. "Those words were written by a disgruntled fo...
Read More
India is Poor Country To Exapnd Snapchat: Evan Spiegel
15Apr By PriyankaNo Comments
News

India is Poor Country To Exapnd Snapchat: Evan Spiegel

Evan Spiegel, Snapchat founder & CEO making controversy saying India is 'too poor' to consider expansion of its user base. According to one of their ex-employee, the founder of US fastest growing social media app Snapchat said that, "This app is only for rich people. I don't want to expand into poor countries like India and Spain,". The ex-employee said that during a user growth meeting in 2015, Evan Spiegel put emphasis on acquiring only premium users. The ex-employee is currently engaged in a lawsuit against Snapchat after he accused the company of presenting misleading inflated statistics of user data to its investors. According to the lawsuit, Pompliano worked at the firm for three weeks before he was fired for uncovering ‘massive internal systematic failure’ and reporting...
Read More