Category: SNAP

Amazon will reportedly lay off 10,000 employees. Here are the other major US companies that have made cuts so far,...

Elaine Thompson/AP A wave of layoffs has swept throughout American enterprise in 2022. The cuts stem from slower enterprise progress, paired with rising labor prices. The layoffs span throughout industries, from mortgage lending to digital-payment processing. Amazon is the newest major tech agency to slash its headcount in 2022.  The e-commerce big plans to lay off as many as 10,000 employees throughout divisions, together with…

Snap CEO Evan Spiegel blasts the metaverse: ‘The last thing I want to do when I get home from work...

Evan Spiegel and Mark Zuckerberg Steve Jennings/Getty Images for TechCrunch and David Ramos/Getty Images Evan Spiegel dissed the metaverse, calling it the “last thing” he’d want to do after a long work day. Snap has chosen to AR projects instead of VR, which the CEO calls “more immersive.” Mark Zuckerberg has spent billions on his plans for the metaverse. Snap CEO Evan Spiegel slammed Mark…

Alphabet’s earnings report confirmed a big ad spending slowdown, and that bodes poorly for Meta

Alphabet CEO Sundar Pichai Brandon Wade/Reuters Google’s ad revenue fell by nearly $2B compared to the previous quarter, proving a slowdown in the ad market The disappointing results are a “bad omen” for digital advertising companies at large, including Meta.  The numbers follow Snap, which also reported that advertising partners are “decreasing budgets.”  Alphabet’s quarterly results prove the advertising market is suffering, and that bodes…

Snap CEO Evan Spiegel’s fortune plunged from almost $14 billion to $2.3 billion in just a year as Snapchat struggles...

Steve Jennings/Getty Images for TechCrunch Evan Spiegel has lost 83% of his wealth over the past year, per estimates by Bloomberg. The Snap cofounder and CEO’s net worth fell from $13.9 billion to $2.3 billion. Snap posted a quarterly net loss of $360 million amid advertising struggles and stagnating user growth. Snap cofounder and CEO Evan Spiegel has lost 83% of his wealth over the…

Snapchat’s disappearing message function helped teenagers obtain fentanyl with deadly consequences, lawsuit argues

Snap said several allegations appeared to be “wholly inaccurate.” Thomas Trutschel/Getty Images Snapchat’s disappearing messages helped teenagers to obtain the drug fentanyl, a lawsuit stated. Lawyers say the feature was defective as it helped facilitate illicit sales of the drug to minors. A Snap spokesperson said several allegations in the complaint appeared to be “wholly inaccurate.” Snapchat’s disappearing message feature helped enable the sale of…