Snap Inc

Snapchat introduces some safety enhancement tools in its AI chatbot

As a result of learning, the company has shared an update on some of the safety enhancements and said to launch a few tools to keep the AI responses in check

Snapchat+ subscribers will soon be able to freeze Snap streaks

The company said that users can take a break with a new feature the platform is testing to let you reignite the spark and restore one Streak for free with just one tap

Snap may come up with AR glasses powered by generative AI technology

Snap, the parent company of Snapchat, has hinted at future AR glasses powered by generative AI technology during its fourth-quarter earnings call on Tuesday

Snap to shut down its camera application for desktop on January 25

The company announced the change on its support page for Snap Camera and said that the application will "no longer be available to use or download" later this month

Snapchat announces new augmented reality feature to let creators make money

The company hopes that the feature will help developers to make money and motivates them to keep building

Snapchat to pay monthly grants up to $50k to sound creators in India

Since launching Sounds, videos created with music from Sounds on Snapchat have collectively resulted in over 2.7 billion videos created and over 183 billion views globally

Meta Platforms seeks out secrets from 132 companies to win antitrust suit

Meta's request is "overbroad and abusive," Snap said in court filings

Snap cutting 20% of staff as ad sales continue to dry up; shares rise 10%

The parent company of social media platform Snapchat said Wednesday that it is letting go of 20% of its staff as it reorganizes and tries to reduce costs in the face of declining sales. In a letter to staff posted on Snap Inc.'s website, CEO Evan Spiegel said sales were not keeping up with earlier projections. Unfortunately, given our current lower rate of revenue growth, it has become clear that we must reduce our cost structure to avoid incurring significant ongoing losses, Spiegel wrote. Spiegel said Snap was restructuring its business to focus on community growth, revenue growth and augmented reality. Anything that doesn't contribute to those three areas will be discontinued or receive substantially reduced investment, Spiegel said. Last fall, Snap said its ad sales were being hurt by a privacy crackdown that rolled out on Apple's iPhones, which raised investor fears about the app's potential for growth. Most social media platforms rely heavily on advertising revenue, one reaso

Wall Street struggles for direction on rate hike jitters; Snap jumps

Snap jumps as it restructures ad business, lays off staff; Netflix rises after hiring two Snap Inc executives; Bed Bath & Beyond sinks on corporate overhaul

Snap laying off around 1,280 employees amid poor growth, says report

Snap, the parent company of Snapchat, is reportedly laying off 20 per cent of its workforce (around 1,280 employees), and the company's Chief Business Officer Jeremi Gorman is leaving to join Netflix

Snap agrees to pay $35 mn over illegal user data collection in US

Snap, the parent company of photo-sharing platform Snapchat, has reached a $35 million settlement with the state of Illinois in the US in a class-action lawsuit over illegal user data collection

Snap sales wipe $76 billion off social media stocks; Twitter falls 2.5%

The Snapchat parent plummeted as much as 30 per cent in premarket trading

Social media stocks sink to erase about $165 billion on Snap warning

Facebook parent Meta Platforms plunges 10%, erasing $53 billion in market value; Snap tumbles 40% in intraday trading

Wall Street drops as economic data, weak forecasts re-ignite slowdown fears

Snap set for worst day on record after profit warning; Abercrombie & Fitch slumps after lowering revenue outlook

Snapchat slows down hiring, to only hire 500 more people this year

CEO Evan Spiegel told employees that company plans to hire 500 people this year, versus 2,000 it hired over past 12 months, after warning investors that its revenue wouldn't grow as fast as expected

Snap tumbles, drags social media giants on Apple privacy tweak worries

Apple's privacy updates, which were rolled out in June and July, prevent advertisers from tracking iPhone users without their consent

Snap Inc shares fall below $17 IPO price for first time

Snapchat owner's March market debut was the hottest US technology listing in years

Snap Inc acquires location-tracking startup Placed for $200 mn: Reports

Tech giant has acquired more than 10 startups so far, besides buying a drone maker

Snap shares drop 4%, fall below $20 for the first time

The stock remains up 17 per cent from its $17 IPO price set on March 1

Snap shares hit new low in choppy trading as valuation concerns mount

Snap has raised some eyebrows on Wall Street, with analysts flagging company's slowing user growth