Spiegel read prepared remarks about the job cuts before answering a few pre-selected questions from workers. “Looks like that went out of the window right away when things started going bad.” Snap CEO Evan Spiegel’s rallying cry fell flat with company staffers. “Kind creative and smart is the motto at Snapchat,” one laid-off worker after the cuts, according to the outlet. Speigel’s comments reportedly upset workers even further during a time in which companywide morale was already “extremely down.” The Snap CEO asserted that the round of pink slips, while a setback, was a chance for the company to “prove the haters wrong” moving forward, sources familiar with his remarks told Insider. Spiegel’s remarks came during an all-hands meeting with Snap employees after the social media app slashed about 20% of its workforce, or more than 1,200 workers, as it contends with an extended stock slump as well as sagging revenue and user growth. Snap boss Evan Spiegel reportedly angered his remaining employees Thursday by framing the company’s recent sweeping layoffs as a chance for them to stick it to the firm’s “haters.” ‘Audio porn’ app created by Snapchat CEO’s sister has 300K subscribers It took 2 years for Evan Spiegel and Miranda Kerr to buy $120M LA home Snap stock rises after CEO confirms job cuts, vows to slash costs So our fundamental bet is that people actually love the real world: They want to be together in person with their friends.The fall of MIA techie who made $158M by making your pics vanish in a ‘Snap’ Spiegel explained: “When we talk about AR, we’re trying to augment the real world around you. However, Snap’s technology is aimed at enhancing the real world. The “metaverse,” a buzzy tech industry term popularized by Facebook founder Mark Zuckberberg, describes a fully immersive digital universe. How is this different from the metaverse? This allows users to occupy the same virtual spaces and play the same games. There are two key new updates: The first is the Lens cloud that lets developers build AR experiences for users, while the second lets users using the same AR lens interact with one another. The latest Snap Spectacles, Spiegel said, “change the way you interact when you can walk around and use your hands, and see computing brought to life.” On Thursday, its shares rose 6.4% to $28.81. It has been increasingly pushing into hardware devices such as its Spectacles, the first version of which debuted in 2016.Ĭurrently, Snapchat has 332 million daily users globally, and has a market capitalization of $47 billion. The new products, unveiled on Thursday, are part of an effort by Snap, Snapchat’s parent company, to branch out from its roots as a social media service.
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