Snap is separating itself and reconstructing from within. In a new Company letterCEO Ivan Speigel just announced that the company is restructuring around 10 to 15 people’s small “startup squads” to make better competition against big contestants.
This step comes in the form of increasing pressure in front of a 5,000-person company. Advertising revenue growth was leveled at 4% in the second quarter, and the North American daily active users fell from 2% to 98 million in the SNAP’s most important market.
Spiegel exposes a bright location: Snapchat+ membership now generates more than $ 700 million in annual recurring revenue from customers paying more than 15 million, causing direct revenue “one of the fastest growing opportunities of SNAP.”
Snap is also doubled on glasses, creating its own AR glasses that Speigel Environment will fully replace smartphones. He calls them “once a generation change for human-focused computing”. (Meta and Google see the same future, participate together Re Ben And Warbee parkerRespectively.)
The Speigel accepts the current stock value “represents doubt”, but writes that “startup-style returns potential”, which is on its evaluation of about $ 12 billion. Left Unsad: This number is below 90% below September 2021, when Snap’s market cap topped $ 116 billion during the height of social media frenzy.
