After a third consecutive disappointing quarter, shares of Snap have plummeted :grincry: :
Rarely have I ever rooted against a company, but as a WP fan I'll always have a dislike for Evan Spiegel and his contemptuous attitude towards the platform. WP users begged him for years to bring Snapchat to the fledgling OS, and even as WP slowly picked up users around the world he flat out refused to show any sign of support or encouragement. Microsoft would have gladly paid the development costs, or done the development work in house. Furthermore, Evan Spiegel shut down any and all efforts by the WP development community to make 3rd party apps, threatening to ban any Snapchat users that used a third party service and forcing the great Rudy Hyun to remove his 6snap app from the store. Rudy even offered up the source code to Snapchat, for free, so the company could pursue a native WP app-- all to no avail.
Well, we know how things turned out for WP. Maybe karma is coming back to bite Evan Spiegel.
- They posted a net loss of $442MM
- They missed analyst expectations for revenue, income daily active users, ARPU
- Ad unit prices were down 60%
- Unsold Spectacles resulted in a -$40MM write down
Rarely have I ever rooted against a company, but as a WP fan I'll always have a dislike for Evan Spiegel and his contemptuous attitude towards the platform. WP users begged him for years to bring Snapchat to the fledgling OS, and even as WP slowly picked up users around the world he flat out refused to show any sign of support or encouragement. Microsoft would have gladly paid the development costs, or done the development work in house. Furthermore, Evan Spiegel shut down any and all efforts by the WP development community to make 3rd party apps, threatening to ban any Snapchat users that used a third party service and forcing the great Rudy Hyun to remove his 6snap app from the store. Rudy even offered up the source code to Snapchat, for free, so the company could pursue a native WP app-- all to no avail.
Well, we know how things turned out for WP. Maybe karma is coming back to bite Evan Spiegel.