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Evan Spiegel

All articles tagged with #evan spiegel

technology1 month ago•17 min saved

Snap trims 16% of staff, steering toward AI-driven efficiency

Snap laid off about 1,000 employees (roughly 16% of its workforce) and will shutter more than 300 open roles, with four months of severance and extended benefits; CEO Evan Spiegel says the cuts are to unlock AI‑enabled efficiency and accelerate a path to profitability, with the company projecting over $500 million in savings by the second half of 2026 as it uses AI to boost Snapchat+, ads, and infrastructure. The moves follow broader tech layoff trends.

via Engadget|

#ai #ar-glasses #evan-spiegel

business1 month ago•17 min saved

Snap Slashes 1,000 Jobs in AI-Driven Turnaround

Snap Inc. is cutting about 1,000 roles (roughly 16% of its workforce) to reduce annual costs by more than $500 million and cover $95–$130 million in restructuring charges, in a bid to reach profitability. CEO Evan Spiegel calls it a crucible moment and says AI will accelerate work, reduce repetitive tasks, and enable a new jobs-to-be-done structure, noting that 65% of new code is AI-generated. The company is prioritizing monetizable markets, Snapchat+ subscriptions, and higher-margin ads, with Q1 revenue guided to about $1.529 billion and adjusted EBITDA of around $233 million. Departing U.S. employees will receive severance and benefits, with transitions support provided.

via The Hollywood Reporter|

#ai #business #evan-spiegel

business1 month ago•4 min saved

Snap Slashes 16% of Workforce to Accelerate AI-Driven Profitability

Snap is cutting about 1,000 jobs (roughly 16% of its staff) and closing 300 open roles to cut costs and lift profitability, saying AI will reduce repetitive work and speed key initiatives like Snapchat+, its ad platform, and Snap Lite. The company aims to save more than $500 million by the second half of 2026, following a workforce of about 5,261 as of December 2025.

via The Verge|

#ai #business #evan-spiegel

business-technology2 years ago•3 min saved

"Snap's Q4 Earnings: Revenue Miss and Middle East Conflict Create Headwind, Stock Plunges 30%"

Snap Inc. reported a revenue miss and issued a light guidance, causing its stock to plunge 30% in extended trading. The company attributed some of the weakness to the conflict in the Middle East, which created a headwind to year-over-year growth. Snap's net loss for the quarter narrowed, but it expects an adjusted EBITDA loss in the first quarter. The company also disclosed sales for its Snapchat+ subscription service for the first time, with 7 million subscribers and an annualized revenue run rate of $249 million in 2023. Snap's struggles in the digital ad market have led to six straight quarters of single-digit growth or sales declines, while larger rivals like Meta, Amazon, and Alphabet reported double-digit expansion in their advertising units.

via CNBC|

#business-technology #digital-ad-market #evan-spiegel

businesstech2 years ago•1 min saved

Snap Inc. Announces 10% Workforce Reduction

Snap plans to lay off around 10 percent of its employees due to struggles in the digital advertising market and challenges in expanding beyond its core product. The company has faced setbacks with hardware projects and new features within Snapchat, while also grappling with a shrinking ad market and Apple's user tracking limitations. Despite a recent rise in revenue, Snap has consistently missed internal targets and aims to reorganize its team to support future growth, with CEO Evan Spiegel setting ambitious goals for 2024.

via The Verge|

#businesstech #digital-advertising #evan-spiegel

technology2 years ago•9 min saved

"Snapchat CEO Declares 'Social Media Is Dead' in Internal Memo"

Snap CEO Evan Spiegel sent a memo to employees declaring "Social Media is Dead" and emphasizing Snap's unique role in making people happy, while outlining the company's 2024 priorities, including a focus on user growth, ad targeting, and AR products. Spiegel also took aim at rivals, criticizing them for connecting pedophiles, fueling insurrection, and recommending terrorist propaganda, positioning Snapchat as a platform offering happiness and close relationships, in contrast to the negative impact of other social media platforms.

via Business Insider|

#augmented-reality #evan-spiegel #rivals

business2 years ago•1 min saved

Snap CEO's Bold 2024 Projections Boost Stock by 12%

Snap shares surged nearly 12% after CEO Evan Spiegel shared strong projections for 2024 with employees, including surpassing analysts' expectations for daily active users and advertising revenue growth. The internal memo projected over 475 million daily active users in 2024, beating the consensus estimate of 448 million, and advertising revenue growth of more than 20%, compared to expectations of just over 14%. Snap confirmed the projections but characterized them as "stretch, internal goals only." The company has faced challenges in improving its online advertising system and operating in a difficult digital advertising economy. Snap will report its third-quarter earnings on October 24.

via CNBC|

#advertising-revenue #business #earnings

technology2 years ago•1 min saved

"Snap's Future: A Closer Look"

Snap CEO Evan Spiegel sends a yearly letter to employees outlining the company's strategy, acknowledging the challenges of missing goals in recent years. The article also mentions the excitement surrounding Snap's initial public offering (IPO) in 2017.

via The Verge|

#evan-spiegel #ipo #snap

entertainment2 years ago•1 min saved

Miranda Kerr's Joyful Announcement: Baby #4 on the Way!

Model Miranda Kerr announced her fourth pregnancy on Snapchat, using her husband Evan Spiegel's app to share the news. Kerr shared an image of four pairs of shoes, indicating that they are expecting a boy. This will be their third child together, adding to their two sons from earlier in their marriage. Kerr also has a son with Orlando Bloom from a previous relationship.

via TMZ|

#celebrity-news #entertainment #evan-spiegel

technology3 years ago•3 min saved

Snapchat's AI chatbot now accessible to all users for free.

Snap is releasing its OpenAI-powered chatbot, My AI, to all of Snapchat's 750 million monthly users for free. My AI can now be added to group chats, recommend AR filters, and soon receive visually generated responses. Snap CEO Evan Spiegel sees generative AI bots as "an awesome creative tool" and a critical part of Snap's future. Despite some problematic interactions, the overwhelming majority of interactions with My AI have been positive, conforming to community guidelines. Spiegel remains tight-lipped about My AI's potential impact on Snap's advertising business.

via The Verge|

#chatbot #evan-spiegel #generative-ai