Snap CEO Evan Spiegel described as a “wakeup call” a letter from a former software engineer who described what she called a “toxic” and “sexist” culture at the Venice-based company. In a farewell letter to employees, software engineer Shannon Lubetich criticizing the social media company for … Read entire story.
Source: Deadline
Snap has laid off around two dozen employees in recent days as it seeks to re-align the staff around the company’s goals for the year. About 18 people from across the company, including some in its content unit, lost their jobs as Snap seeks to put the proper people … Read entire story.
Source: Deadline
NBCUniversal, which invested $500 million in Snap Inc. just before its IPO in March, is taking the investment to the next level by teaming up with the social networking company on a new digital content studio tasked with adding a scripted programming to Snap’s Shows platform. The companies have … Read entire story.
Source: Deadline
UPDATE: Those who bought Snap shares for $17 should be all smiles after its first day of public trading. The stock closed at $24.48, a 44% increase over the price the underwriters paid. It it too high? Nomura Instinet’s Anthony DiClemente thinks so, setting a target price of $16. … Read entire story.
Source: Deadline
Shares of Snap Inc. — the parent of SnapChat — debuted on the New York Stock Exchange today at $24, a 41.2% improvement from the $17 a share that underwriting banks and investment firms agreed yesterday to pay in the initial offering. Snap and its insiders original set their target … Read entire story.
Source: Deadline