Snapchat Stock Crashes After Meta Launches “Instants”
Snap shares fell after Meta rolled out Instants — disappearing photos you can’t edit or screenshot. The new Instagram feature (and standalone app) looks a lot like Snapchat.
Snap shares fell after Meta rolled out Instants — disappearing photos you can’t edit or screenshot. The new Instagram feature (and standalone app) looks a lot like Snapchat.
Snap reported $1.53B in Q1 revenue with an increase in users, but ad sales were hit by the Iran conflict, and the company ended its AI partnership. It is now cutting costs.
Snap upgraded to Buy with 77% upside; analysts expect first profit, rising subscriptions, and stronger growth ahead.
Snap cuts 1,000 jobs and 300 roles to save $500M, focus on AI, cut costs, and improve profits amid weak ad market.
Activist fund Irenic Capital wants Snap to spin off its smart glasses business, cut jobs, buy back shares, and use AI to improve ad revenue.
Juries order Meta and Google to pay millions after finding them responsible for depression, addiction, and exploitation of young users. First major crack in Section 230 shield sparks appeals that could reshape internet law.