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Snap wrote down nearly $40 million because Spectacles are a flop (SNAP)
Snapchat spent $39.9 million in the last quarter in charges related to unsold Spectacles and retailer cancellations.Spectacles never caught on, with under half of users continuing to use the camera...
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Snapchat's longtime head of engineering, Tim Sehn, is leaving the company (SNAP)
The Snap executive in charge of all its engineering efforts, Tim Sehn, is leaving.Sehn was one of Snap's highest-paid execs.He's the fourth exec to leave Snap since its initial public offering earlier...
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China's investment holding giant Tencent is reportedly taking a 10% stake in...
Tencent, a giant Chinese investment holding company, is reportedly taking a 10% investment in Snap, according to CNBC.The news comes a day after Snap's Q3 earnings, where the company reported...
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A critical mistake cost traders betting against Snap huge profits (SNAP)
Snap turned in a disastrous third-quarter earnings report on Tuesday that saw its stock plummet as much as 22% in after-hours trading.Short sellers pared positions in the weeks leading up to earnings,...
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Snap trims earnings losses after Tencent announces a 10% stake (SNAP)
Snap reported disastrous earnings that sent the company down 20% on Tuesday.The company gained back some of those losses after announcing that Tencent had acquired a 10% stake in the company.Watch...
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It's easy to understand why Snap Spectacles were a failure
Spectacles resembled an ephemeral 1970s fad.The devices failed to attract interest from Snap's youthful users.The big question now is whether CEO Even Spiegel can keep the company cool in the face of...
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It's time to stop spreading the myth that Snap is a brilliant products...
Snap reported terrible earnings Tuesday and announced it would redesign the Snapchat app.It also announced a $40 million write-down related to unsold Spectacles.Snap has always been written about as an...
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Snap is where hype and money go to die (SNAP)
Snap on Tuesday reported a 62% increase in third-quarter revenue, while its net loss tripled to $443 million. This happened amid big a massive inventory writedown on Spectacles.Snap's business is...
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Snapchat's biggest redesign ever is planned for December 4 — here's how it...
Snapchat's biggest redesign ever is planned to debut on December 4, Business Insider has learned.The new design will still open to the camera, but includes significant layout changes that could affect...
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Snap is pulling in about $1.17 in revenue per user — far less than Facebook...
As was pretty clear from Snap's earnings report Tuesday — just its third since going public in March — the teen chat app maker has a lot to work on. Its revenue isn't growing as quickly as expected,...
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Snap eyes influencers amid Q3 earnings miss (SNAP)
This story was delivered to BI Intelligence "Digital Media Briefing" subscribers. To learn more and subscribe, please click here.Snap plans to build monetization and distribution tools to lure...
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The Chinese company behind the biggest game in the world wants to work with...
Chinese tech giant Tencent said it wants to work with Snap Inc. on developing mobile games and "newsfeed" ads.Snapchat is planning a significant redesign that will include a feed of personalized...
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Snapchat lost $40 million on its Spectacles — now it's selling unsold pairs...
Snapchat is planning to sell its Spectacles camera-glasses from a special store in East London.The buzzy devices were a flop, with hundreds of thousands going unsold, causing a $40 million (£30...
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THE SOCIAL MEDIA DEMOGRAPHICS REPORT: Differences in age, gender, and income...
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.Social networks are here to stay, and they're...
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Snap has spent $352 million on acquisitions this year — here are all of the...
Snap has spent at least $352.4 million in cash on acquisitions this year.The six-year-old app maker has purchased roughly two dozen other companies since 2014 and shows no signs of slowing its...
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Snapchat's latest feature converts its lenses and filters into shopping...
Snapchat is rolling out Context Cards for its sponsored lenses and filters.These cards not only let users learn more about brands and their products, but also drive them to an action, like purchasing a...
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Facebook is killing its standalone Snapchat clone in Messenger and putting...
Facebook has ended its standalone Snapchat Stories clone for Messenger by connecting the feature to its main mobile app.Now Stories shared on Facebook can be posted to Messenger and vice versa.Facebook...
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ESPN launches Snapchat show (DIS)
This story was delivered to BI Intelligence "Digital Media Briefing" subscribers. To learn more and subscribe, please click here.ESPN announced it is launching a new daily sports show, which will be a...
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Two of Snap's biggest investors just loaded up on more shares (SNAP)
Two of Snap's largest shareholders, Fidelity and Coatue Management, increased their holdings during the company's third quarter.The revelation is a sign of confidence in Snap despite its disappointing...
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Evan Spiegel and Miranda Kerr are expecting their first child
Miranda Kerr and Snap CEO Evan Spiegel are pregnant with their first child. The couple got married last May after dating for two years.Kerr also has a 6-year-old son with actor Orlando Bloom. Model...
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