Category: Snapchat

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…