Snap(chat) stock is going down-- and this WP fan couldn't be happier

[Chris_Kez]

After a third consecutive disappointing quarter, shares of Snap have plummeted :grincry: :

• 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

They're losing share to Instagram, the app recently fell out of the iOS Top 10 for the first time and Spiegel says a major overhaul of the app is underway to make it easier to use. Furthermore, Spiegel cautioned that this overhaul is likely to disrupt the business and he's not sure what will happen. Remember, this company was famously obstinate about having an inscrutable UI that kept away the old people. Well, now they're getting desperate and the once untouchable wonder boy Evan Spiegel is having to prostrate himself before Wall Street. :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.

 

[Wolfjt]

After a third consecutive disappointing quarter, shares of Snap have plummeted :grincry: :

• 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

They're losing share to Instagram, the app recently fell out of the iOS Top 10 for the first time and Spiegel says a major overhaul of the app is underway to make it easier to use. Furthermore, Spiegel cautioned that this overhaul is likely to disrupt the business and he's not sure what will happen. Remember, this company was famously obstinate about having an inscrutable UI that kept away the old people. Well, now they're getting desperate and the once untouchable wonder boy Evan Spiegel is having to prostrate himself before Wall Street. :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.

But you really can't blame him can you? Think is they spent all that money to support an OS going no where. The state of WP is proof he was right.

 

[tgp]

But you really can't blame him can you? Think is they spent all that money to support an OS going no where. The state of WP is proof he was right.

It doesn't seem that he avoided WP for that reason, but yes, it wouldn't be hard to reason that he was ultimately correct. He never "wasted" resources on a platform that everyone else ended up dropping anyway.

 

[Chris_Kez]

But you really can't blame him can you? Think is they spent all that money to support an OS going no where. The state of WP is proof he was right.

It doesn't seem that he avoided WP for that reason, but yes, it wouldn't be hard to reason that he was ultimately correct. He never "wasted" resources on a platform that everyone else ended up dropping anyway.

He could have allowed third party developers to support Windows Phone users-- a la YouTube and Pocket, and Instagram (before they came out with their own app). There were third party Snapchat apps on Android, but Spiegel chose to specifically target Windows Phone developers with cease and desist letters.

 

[Axeelant]

Makes me happy too :devil:

Could be because of the owner's hate for Windows, or simply my hate for the stupid app such as snapchat. I can't wait for it to finally die. Besides, everything snap has is already on IG and FB, so lets hope they keep loosing users!

 

[etphoto]

Its too popular to die. Its in danger of being bought by someone though.

 

[fatclue_98]

Its too popular to die. Its in danger of being bought by someone though.

I used to think that way too. Until I saw what happened to Pontiac, Plymouth, Pan Am, Eastern and Oldsmobile. Iconic names that had been around much longer than some teenager messaging app.

 

[anon(50597)]

You had better be upset with the thousands of other developers who left Windows Mobile also. This is like hating Apple because they’re successful. I don’t get it.

 

[MrockNroll]

I don't use it, don't care in the slightest but iam glad it's going downhill fast.??????

 

[Guytronic]

There's a lot better things to hate than Snapchat

 

[RumoredNow]

Are we still talking about SnapChuck?

I'd like to see all that social garbage go down and stay down. Waste of bandwidth, all of it.

 

[editguy]

Its too popular to die. Its in danger of being bought by someone though.

The same could have been said about Myspace. But, for all practical purposes, it died.

 

[editguy]

You had better be upset with the thousands of other developers who left Windows Mobile also. This is like hating Apple because they’re successful. I don’t get it.

I don't care one way or the other. But, it's not the same thing as the companies that left. ?For them, it was a business decision. For him, it was not a business decision. He spewed vitriol about MS. He's a hateful little man.

 

[N_LaRUE]

So this is what it's come to... A company isn't doing well (yeah the guy is a jerk) but now we're supposed to cheer because he disliked MS? A large company that has completely abandoned it's user base... yeah that make sense.

 

[tgp]

So this is what it's come to... A company isn't doing well (yeah the guy is a jerk) but now we're supposed to cheer because he disliked MS? A large company that has completely abandoned it's user base... yeah that make sense.

It's called "schadenfreude" or something like that. I recall hearing about that on these forums after the WhartonBrooks crowdfunding campaign flopped. Anyway, what goes around comes around...

 

[fatclue_98]

Are we still talking about SnapChuck?

I'd like to see all that social garbage go down and stay down. Waste of bandwidth, all of it.

You can count on my vote.

 

[Guytronic]

I'd like to see all that social garbage go down and stay down. Waste of bandwidth, all of it.

Even things like Windows Central?

 

[RumoredNow]

Even things like Windows Central?

I don't classify forums in with FaceTwitInstaSnap type stuff. By and large forums have a specialist audience and stay on target discussing a common interest between people.

 

[jlzimmerman]

So this is what it's come to... A company isn't doing well (yeah the guy is a jerk) but now we're supposed to cheer because he disliked MS? A large company that has completely abandoned it's user base... yeah that make sense.

I don't think it means that MS doesn't deserve their fair share of resentment.

I understand the OP's post. For someone who openly despises MS, who smugly said "no" when MS offered to develop SnapChat's official app for WP/W10M and forced the take-down of 6snap, I understand the contempt in return for Mr. Spiegel.

 

[xandros9]

I used to think that way too. Until I saw what happened to Pontiac, Plymouth, Pan Am, Eastern and Oldsmobile. Iconic names that had been around much longer than some teenager messaging app.

My take on that though is that those brands (I'm too young to know about Pan Am or Eastern) had a fairly slow descent beforehand, and I think we could expect a fate like that for Snap when its userbase falls by a ridiculous amount like sales for Plymouth in its twilight years I hear. Otherwise, I'm going to expect an acquisition at the worst because there's a lot of potential (or at least appears to be) there that people are gonna want to try to tap into.