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Spiegel miscalculated and its cost him billions. He had multiple opportunities to sell Snapchat to the competitors who are now still growing and copying his fea
by at-fates-hands 8y ago
Spiegel miscalculated and its cost him billions. He had multiple opportunities to sell Snapchat to the competitors who are now still growing and copying his features while his own platform has essentially stalled out.
A verge article detailed its decline a few months ago:
https://www.theverge.com/2018/5/18/17366528/snapchat-decline-internet-ghost-towns https://www.theverge.com/2018/5/18/17366528/snapchat-decline...
And the previous HN discussion on said article: https://news.ycombinator.com/item?id=17431663 https://news.ycombinator.com/item?id=17431663
- sp332 8y agoFacebook went up against Snapchat directly, pushing Stories as hard as possible in all their apps. There's nothing inherently wrong with the product, it just got out-competed by a bigger player.
- jandrese 8y agoI have to admit I heard about Snapchat for the first time when they turned down IIRC a billion dollars from Facebook. Then I looked into it and realized that the CEO must be crazy because his audience was almost entirely composed of fickle teenagers.
- misiti3780 8y agoi agree with everything you said except he is a currently supposedly worth 3B which is more than he would have gotten if he sold to facebook -- no?