Silicon Valley Slump: Snap to Lay Off 20% of Employees
Snap, the company behind social media platform Snapchat, is laying off approximately 20 percent of its more than 6,400 employees, according to sources.
Snap, the company behind social media platform Snapchat, is laying off approximately 20 percent of its more than 6,400 employees, according to sources.
Snapchat’s parent company Snap is reportedly in the early stages of planning layoffs, according to two sources.
Snap, the parent company of social media platform Snapchat, suffered a 36 percent drop in share price in intraday trading on Friday following the release of the company’s poor second-quarter results and the announcement of plans to slow hiring. The Silicon Valley company has lost almost two-thirds of its market value in 2022.
China-owned TikTok is facing claims that its algorithm steers violent videos towards black users rather than white users in a lawsuit blaming the platform for the death of a 14-year-old girl named Englyn Roberts.
Social media giant Snapchat suffered a huge 43 percent drop in its stock price on Tuesday after the company’s CEO warned of a continually deteriorating online digital advertising environment.
A Virginia teacher was charged in connection to the alleged possession of child porn after an investigation was launched recently, according to Fairfax County law enforcement.
In a recent interview, Snap CEO Evan Spiegel criticized Mark Zuckerberg’s Metaverse as “ambiguous and hypothetical.” According to Spiegel, “people really enjoy spending time together in reality.”
Chinese-owned social media app TikTok is set to triple its ad revenue in 2022 to more than $11 billion, totaling more ad sales than Twitter and Snapchat combined.
Facebook and Snapchat are both being sued over the suicide of a teenager in Wisconsin by his mother and an advocacy group holding the tech giants responsible for social media addiction.
TikTok’s Chinese parent company ByteDance made fake accounts using content it scraped from Instagram and Snapchat, according to former employees, who described the project as one of several “growth hacks” implemented by the company.
A recent study suggests that the negative impact of social media platforms varies for girls and boys based on their age. Girls are most negatively impacted between the ages of 11 and 13, while boys are most negatively impacted between 14 and 15 years old.
Snapchat, the social media platform particularly popular with teens, has claimed that it is working to make it tougher for drug dealers to connect with children on its platform. The parent of one teen who overdosed on fentanyl-laced pills he bought from a dealer on Snapchat said in response: “What I find with Snap Inc. is that they publicize one Band-Aid after another, but at the end of the day, you can still go online and get drugs in seconds.”
The Facebook-owned social media platform Instagram is reportedly offering creators large sums of money to post videos to its TikTok clone, Reels.
A teacher in the Bronx has been arrested and charged for allegedly sending explicit pictures to multiple female students and forcibly touching one of the girls.
A recent study has found that Apple’s consumer-friendly privacy standards for iPhones and other devices have cost social media giants including Meta (Facebook), Twiter, Snapchat, and YouTube $10 billion in revenue in the second half of 2021.
The CEO of Snap, the company behind the popular Snapchat social media platform, claims that Apple’s recently introduced App Tracking Transparency system is having a negative effect on his company’s revenue. Apple’s consumer privacy settings are impacting all tech companies reliant on advertising, including the Masters of the Universe at Facebook. The company’s stock is trading down more than 22 percent following the news.
The photo and video sharing app Snapchat is reportedly growing faster than it has since 2017, the year the company went public. Daily users soared 23 percent and revenue grew by 116 percent, growth numbers that far outpace established social media giants like Twitter.
Biden’s White House is teaming up with Snapchat to encourage teenagers to get vaccinated, featuring an augmented reality lens allowing the user to “ask” one of four questions to leaders and experts, including, “Why should I get vaccinated?”
This week, a federal appeals court ruled that the parents of three young teenagers who died in a car crash while using Snapchat’s “speed filter,” should have the right to sue Snap over what they claim is the platform’s role in the accident.
Snapchat, a social media platform, is looking to “redesign” its camera technology in order to make it more “inclusive” after employees complained, “the camera is, in fact, racist,” according to an Axios report.
A recent report from CNN outlines how social media platforms are now having to work harder to keep content creators and online talent exclusive to their platforms. Platforms are throwing cash at prominent content creators, for example, one pair of influencers recently received almost $30,000 for a single Snapchat video.
A 22-year-old man in the Paris no-go suburbs of Seine-Saint-Denis was sentenced to four years in prison after blackmailing underage girls for sex on social media.
Snap Inc., the parent company of the Snapchat social media platform, warned on Thursday that upcoming privacy changes by Apple could hurt its ad business despite user growth and revenue beating analysts’ fourth-quarter estimates.
The popular timed photo-sharing app Snapchat has reportedly permanently banned President Trump’s account on the platform.
A teen who was suspended from cheerleading for a vulgar post on Snapchat will now have her lawsuit against her high school heard by SCOTUS.
Former President Barack Obama posited in an interview more black male voters supported President Donald Trump in 2020 partially because of his “macho” persona.
In a recent article, Wired notes that as many social media platforms copy features from each other, they are all essentially become the same platform. Copying features is an effort to “juice engagement,” but the platforms lose their unique personality in the process.
Snapchat has helped more than 1 million people register to vote in November’s elections, with 65 percent of them being under 25 years old.
Snapchat, a social media platform particularly popular with young people, says it will stop promoting President Donald Trump’s account on its Discover feature, saying the president incites “racial violence and injustice” in a statement on Wednesday morning. Trump Campaign Manager Brad Parscale replied: “If you’re a conservative, they do not want to hear from you, they do not want you to vote. They view you as a deplorable and they do not want you to exist on their platform.”
Three people were injured Wednesday night when a man opened fire on an outdoor mall in Glendale, Arizona, after allegedly announcing the start of the attack on Snapchat.
Snapchat, the messaging and photo-sharing social network popular with young people, is preparing a voter registration drive ahead of the 2020 U.S. presidential election, reports Axios.
Joe Biden says the coronavirus outbreak is “a chance” to alter the U.S. economy and “institutionally change” the way it functions.
Joe Biden dropped into the fast-paced world of Snapchat on Wednesday and stumbled through the appearance.
Ravens safety Earl Thomas was held at gunpoint by his wife after she discovered him allegedly having an adulterous orgy on Snapchat, according to an exclusive report from TMZ Sports.
Dr. Anthony Fauci said on Snapchat’s Good Luck America that meeting up with someone after connecting online is a risk.
An Oklahoma high school teacher was arrested for allegedly having a threesome with a student and another woman inside her home.
A cheerleading coach from Oklahoma has admitted to having sex with two students after trading explicit photos on Snapchat.
A Florida teacher’s aide accused of having sex with two 15-year-old students at a pool near her residence was arrested Friday night.
An Oregon mother is accused of having sex with a 14-year-old boy at her daughter’s school after connecting with him through Snapchat.
A former Texas teacher arrested last year for having sex with two teenage students has been spared jail time after inking a deal with prosecutors.