Archived Snapchat is losing twice as much money as it did last year (theverge.com)
submitted ago by MarvinMcluhan_95
Posted by: MarvinMcluhan_95
Posting time: 3.6 years ago on
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Archived on: 8/10/2017 10:00:00 AM
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Archived Snapchat is losing twice as much money as it did last year (theverge.com)
submitted ago by MarvinMcluhan_95
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[–] derram ago
https://archive.is/Tpm8P | :
'That puts it behind Instagram Stories, a competitor launched by Facebook that copied heavily from Snapchat and has already passed 200 million users. '
'Snapchat has a user growth problem on its handsInvestors were not pleased with the slowing rate of growth, and the company’s shares were down nearly 25 percent in after-hours trading. '
'And while its user base was highly engaged, its user growth slowed to its lowest level ever in the fourth quarter of last year. '
'Financially the company continued to increase its revenue, which grew nearly 300 percent to just under $150 million in the first quarter. '
'It also means Snap hasn’t found a way back to the rapid growth it saw in years past. '
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