Discussion

• Vox Shirin Ghaffary on x

  Snap CEO Evan Spiegel isn't ready to sell his company

• @alexeheath Alex Heath on x

  Inside Snap's turnaround plan: After a stock price collapse and brutal layoffs, CEO Evan Spiegel yesterday told employees how he plans to still grow Snapchat's users to 450 million. Goal is to hit $6 billion in revenue next year. Full internal memo here: https://t.co/FYZdUVUp73

• @markmilian Mark Milian on x

  Snapchat guy, now in his early 30s, has a new growth strategy involving people in their 30s. Sign up, and get a six-pack of craft IPAs and a three-month subscription to HBO https://twitter.com/...

• @alexeheath Alex Heath on x

  Lots of nuggets in this Spiegel memo: - Snap has big aspirations for its paid tier, hopes for it to hit 10 million subs next year - Recently set up an AR enterprise division to sell software tools - Sounds like next version of Spectacles will also be for devs only

• @alexeheath Alex Heath on x

  - Plan is to make $6 billion in revenue and at least $1 billion in free cash flow in 2023 - Wants 35% of users interacting with the Map tab of Snapchat and 30% of them on Spotlight, its TikTok competitor, every day next year - Wants AR-based ads to make up 10% of its total 23 rev

• @alexeheath Alex Heath on x

  Spiegel on AR: “Leadership in augmented reality is important to Snap because it helps us build a durable competitive advantage that comes from investing over the long term...It also positions us to benefit from the next major platform shift: mobile to wearables.”