Mixed Snapchat Picture Results in Stock Dive on Q3 Results

Snapchat is blaming Apple’s new digital advertising policy for what it predicts will be a slow Q4. Changes including an iOS rule letting users opt-out of ads make it difficult for advertisers to test campaigns and measure results, Snapchat claims. The prediction came as Snap Inc. released Q3 results, announcing $1.067 billion for quarterly revenue, just short of the $1.07 billion expected. Snap exceed its Q3 goal for daily active users, which hit 306 million, beating by 5 million its Q2 estimate. Despite a 57 percent revenue year-over-year increase, Snap stock value dropped significantly. Continue reading Mixed Snapchat Picture Results in Stock Dive on Q3 Results

Snapchat Offers Tools for Parents, AR Studio for Advertisers

In the wake of a Congressional inquiry regarding the safety of minors using online platforms, Snapchat is preparing to debut “family engagement” tools, according to Snap CEO Evan Spiegel. Speaking at WSJ Tech Live, Spiegel said the features will allow parents greater control as to how children use the service. Spiegel emphasized privacy as built-in to Snapchat, noting “we never market our service to people under the age of 13.” Keen to market to millennials and Gen Zers, Snap also announced this week it’s launching Arcadia, a global creative studio focused on developing augmented reality advertising and experiences for brands. Continue reading Snapchat Offers Tools for Parents, AR Studio for Advertisers

Apple Chief Exec Tim Cook Testifies in Trial with Epic Games

“Fortnite” creator Epic Games sued Apple over its 30 percent commission on all App Store transactions. That case is now in court, and Apple chief executive Tim Cook took the stand to defend his company against accusations of monopolistic behavior. On the sidelines are other companies with the same grievance and the European Union, which also charged Apple with violating antitrust rules with the App Store. In an hour of testimony, Cook stated that commissions from app developers help the company create better App Store security. Continue reading Apple Chief Exec Tim Cook Testifies in Trial with Epic Games

Snap Introduces Augmented Reality Spectacles for Creators

During last week’s Snap Partner Summit 2021, Snap showcased Spectacles, a new augmented reality version of its glasses that is not yet commercially available. Instead, the goal is to inspire creators to design new augmented reality experiences, with the aim of capitalizing on e-commerce. The company also updated the Scan feature, which, in concert with partners, allows use of the camera to identify everything from plants to dog breeds and car models. Chief executive Evan Spiegel said the moves are “a meaningful step forward in our platform strategy.” Continue reading Snap Introduces Augmented Reality Spectacles for Creators

Snapchat Aims to Compete With AR-Centric Digital Platform

Snap is planning to compete directly with Apple, Facebook and Google by creating a complete digital platform, with an app store, expanded games service and ability for third-party developers to build augmented reality experiences with its machine-learning models. Further, Snap is permitting other apps to integrate its camera software and include businesses and users’ friends into its maps. Snapchat has grown to 229 million daily users, versus Twitter’s 166 million, but is still smaller than Instagram and Facebook. Continue reading Snapchat Aims to Compete With AR-Centric Digital Platform

Snap Expands AR Toolset, Announces Deals for New Content

Snap inked multi-year deals for custom short-form content with Disney, NBCUniversal, ViacomCBS, the National Basketball Association and the National Football League. It released plans for original content including unscripted series, docuseries, and scripted dramas and comedies. In partnership with The Washington Post, Bloomberg and ESPN, Snap will produce “Happening Now,” a breaking news feature. It also revealed that 170+ million people use its augmented-reality tools daily, moving the technology into the mainstream. Continue reading Snap Expands AR Toolset, Announces Deals for New Content

Tech Firms Consider Remote Work Options After Coronavirus

Apple, Facebook, Microsoft and Twitter were among the first U.S. companies to send their employees home as the coronavirus spread. Now, as they reopen their campuses, they are also allowing some of employees to continue to work from home. If that policy becomes widespread, it will be a major change from the college-like corporate campuses the companies built to encourage creativity and spontaneous interactions. Working from home will be its own perk and allow companies to broaden their search for workers. Continue reading Tech Firms Consider Remote Work Options After Coronavirus

Snap Maintains User Numbers, Aims for Profitability in 2019

The number of Snapchat app users will remain the same this quarter, news that was a relief to investors and helped propel Snap shares up 22 percent, to $8.62 in after hours trading. Since it went public in March 2017, Snapchat has competed with Facebook’s Instagram, which adopted many Snapchat features. Snap also redesigned the app, to the dismay of some advertisers and users. In Q4, Snap, with 186 million daily active users, was on a par with the previous quarter, although down one million from the same period a year ago. Continue reading Snap Maintains User Numbers, Aims for Profitability in 2019

Twitter Releases Daily Active Users Total For the First Time

Twitter shared details regarding its total number of daily users for the first time, and it turns out the platform has more than 60 million fewer daily users than Snapchat, and significantly less users than Facebook’s messaging service WhatsApp. However, since Twitter currently has 126 million daily active users (DAU), that means about 39 percent of its monthly active users (MAU) are now using the app on a daily basis, which should prove to be an important metric to investors as it shows that Twitter is in fact growing. Continue reading Twitter Releases Daily Active Users Total For the First Time

Snap Plans to Debut Next-Gen Spectacles With Two Cameras

By the end of 2018, Snap plans to introduce its next version Spectacles glasses with two cameras, codenamed Newport and priced at $350. According to sources, Newport will feature an “all new design” with “premium” aluminum-based frame and cameras that can overlay AR lenses over video. The latter feature is part of company founder Evan Spiegel’s vision of everyday AR glasses. Newport’s price is more than double the cost of the first Snap Spectacles, which debuted in 2016. Snap plans to make about 24,000 pairs. Continue reading Snap Plans to Debut Next-Gen Spectacles With Two Cameras

Snap Chief Exec Outlines a New Plan for Profitability, Growth

In a 15-page letter on September 26, Snap chief executive Evan Spiegel told employees his plan to achieve full-year profitability in 2019 and refocus the company around new strategies. He admitted that the company’s redesign created many problems and “lost the core of what made Snapchat the fastest way to communicate.” That widely criticized redesign led to Snapchat’s first-ever decline in daily active users last quarter. Spiegel now wants the company to focus on adults, not teens, and messaging, not stories. Continue reading Snap Chief Exec Outlines a New Plan for Profitability, Growth

Does Snap’s Daily User Slump Signal Social Media Saturation?

Snap reported that it lost three million daily active users in Q2 this year, the first time the company has recorded a loss in users since it went public in early 2017. This decline mirrors reports from Facebook, which stated its number of U.S. users was flat and its European users had fallen, and Twitter, which said in late July that its monthly active users had dipped by one million. Facebook and Twitter both experienced a tumble in share prices after their disclosures, raising the specter that social media usage has peaked. Continue reading Does Snap’s Daily User Slump Signal Social Media Saturation?

Snap Launches an Accelerator Program With Focus on Mobile

Snap Inc. is launching an accelerator named “Yellow” with hopes of finding the next big media business. This fall, the accelerator will invest $150,000 in 10 startups or creators looking to develop media projects for mobile devices. Snap plans to take a small equity stake in those selected to receive the funding. The startups will also get mentorship from Snap execs, access to professional networking events, the opportunity to distribute content on Snapchat, and office space in Venice, California where Snap is based. CEO Evan Spiegel is expected to be involved in mentorship and the selection process. Continue reading Snap Launches an Accelerator Program With Focus on Mobile

In Response to User Outcry, Snap Retreats on Chat Redesign

Snapchat fans have loudly complained about the company’s redesign of its app, with more than 1.25 million people signing a Change.org petition and Kylie Jenner tweeting that the changes were “sad.” Parent company Snap announced that it would redesign the redesign (at least part of it), in response to the complaints and slowed business. The company reported a 54 percent revenue increase to $231 million and a rise in daily users to 191 million, both below analyst expectations, causing stock to fall more than 15 percent. Continue reading In Response to User Outcry, Snap Retreats on Chat Redesign

Snap Planning to Release Updated Spectacles Later This Year

Snap Inc. is planning to launch a second version of its video recording glasses this fall followed by a more ambitious version in 2019 that will include two cameras and other features. In addition to new colors and water resistance, the second version aims to fix bugs and provide needed performance improvements. The potential price tag would be around $300, which is more than double the $130 cost of the first version. News of additional versions comes just months after Snap announced it lost $40 million on the original. Continue reading Snap Planning to Release Updated Spectacles Later This Year