CNBC has reported that a Wall Street Analyst warns that Snapchat is “quickly running out of money.” Shares in Snapchat’s parent company Snap Inc. are at their lowest point in the past year. I
“While it is obvious that Snap wasn’t prepared for life as a public company, it now has a more pressing problem. It is quickly running out of money,” says the analyst. He continued on to say Snapchat’s attempt to survive is “attempting to do the impossible,” while “Facebook is ramping [Instagram] Stories usage and monetization across its massive installed base.”
Nathanson considers the company’s money problems “self-inflicted damage.”
“Although Twitter pulled off a similar miracle, call us skeptical as – despite the memo – we don’t have faith in Snap’s leadership to navigate these rapids,” Nathanson concluded.
Celebs have been jumping off the Snap bandwagon for some time now, so this news shouldn’t come as a huge shock.
I stopped using snap. The update, the constant complaints of people not being able to find me, plus the Rihanna poll…no bueno
— christine teigen (@chrissyteigen) March 24, 2018
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
Are you staying loyal to snap or the gram?
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