Snap is divided into “startup teams” as advertising revenue stalls

Surprisingly disintegrate itself and rebuilding from the inside. In new CompanyCEO Ivan Spiege announced that the company is restructuring about small “start -up teams” from 10 to 15 people to compete better against larger competitors.

The move comes at a time when the company faces 5,000 people escalating pressure. Advertising revenue growth decreased by 4 % in the second quarter, and daily active users in North America decreased by 2 % to 98 million, a worrying sign in the Snap market.

SPIEGEL highlights one bright point: Snapchat+ subscriptions that now generate more than $ 700 million of repeated annual revenues from more than 15 million paid subscribers, making direct revenues “one of the fastest growth opportunities in Snap”.

Snap also multiplies the specifications, and the construction of its AR glasses that Spiegel imagines will completely replace smartphones. They are called “one time in the generation towards the computing that focuses on the human being.” (Meta and Google see the same future, in partnership with Ray Ban and Warby Parkerrespectively.)

Spiegel admits the current stock price “reflects suspicion” but writes that there is “return capabilities similar to startup” with its evaluation of approximately $ 12 billion. UNSAID: This number decreased by 90 % from September 2021, when the Snap market roof reached $ 116 billion during the peak of social media mania.