Snap CEO on Company Earnings: The Dancing Hot Dog Was Loved by All
Despite sounding pretty screwed during its second-ever investor call on Thursday,
On to the not-so-fun news: Snap's daily user growth is not humming along like it once was. Around the time Instagram cloned Snapchat's marquee features, things started going south.
But Snapchat is still very much a thing , with 173 million daily users. Like Twitter, Snapchat's problem isn't that it's not popular-it just isn't growing as fast as investors want it to. But unlike Twitter , Snapchat did manage to add 7.3 million new daily users in the last three months.
On top of all this, Snap is losing gobs of money: $443.1 million last quarter. Dancing frankfurters don't come cheap. The app's advertising revenue is growing-Snap made $181.7 million last quarter-but the company still fell short of analysts' estimates.
To reassure skittish investors, Snap cofounders Spiegel and Bobby Murphy pledged to not sell their shares this year. The stock, by the way, fell by over 16 percent in after-hours trading this evening.
As for Snap's $443.1 million loss-for that kind of change, Spiegel could buy himself over 100 million Nathan's