Most of the recent organizational changes at Snap can be traced to a botched redesign of its platform several months ago. The company lost millions of users in a short period of time, which according to the current estimate will take a long time to recoup.
Most of the recent organizational changes at Snap can be traced to a botched redesign of its platform several months ago
Snap desperately needs to ramp up its finances, thereby boosting the morale of shareholders and customers. It seems the augmented-reality advertising rolled out by the company holds the key to its revival. Reports this week revealed that a cheaper version of the AR ad service is finding many takers. Snap can use the early lead in this pioneering technology to its advantage.
Will Snap be able to bounce back?
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Meanwhile, there seems to be a fresh threat from Facebook to Snap’s video-sharing platform, this time in the form of Lesso, a unique video service being launched by the social media giant. It needs to be seen how the Snap leaders will respond to Facebook’s plan to integrate Lesso into Instagram, giving a whole new experience to users.
Separately, Imran Khan, a key executive who left Snap after leading the 2017 IPO, is reportedly doing the groundwork to launch a new online retail platform.
At $6.65, Snap shares are currently trading at a record low. The stock, which plunged about 54% since the beginning of the year, traded lower during Monday’s regular session.
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