Snap breaks into ‘startup squads’ as ad revenue stalls

SNAP is breaking himself and rebuilding from the inside. In a new annual CompanyCEO Ivan Spiegel has just announced that the company is reconstructing the surrounding “Startup Squad” of 10 to 15 people to compete better against greater competitors.

This step comes when the 5,000-person agency is facing mounting pressure. The second trimester has been flatline at 4% of the advertising revenue, and North America’s daily active users have declined by 2% to 98 million, which is a worrying sign in the most important market of SNAP.

Spiegel highlights a bright spot: Snapchat+ subscriptions now produce more than $ 700 million to earn more than 15 million payments to customers, earning more than $ 700 million, directly “Snap is one of the fast growing opportunities.”

SNAP is doubled in spaces, creating its own AR glasses that will replace the Spiegel fantasies completely smartphones. He calls them “the transformation of generation at once towards human -centric computing.” (Meta and Google see the same future, partnership with it Verdict And WorldRespectively.)

Spiegel acknowledges the current share price “reflecting doubt” but writes that Snap has a “Startup-style return potential” in the evaluation of approximately $ 12 billion. Left Crude: This number has declined by 90% since September 2021, while Snap’s market cap was at the top of $ 116 billion during the height of the social media manier.