Well that escalated quickly…
As we noted last night, over the past several months, Bloomberg notes, the company has altered the way its app works, separating conversations with friends from posts by media companies and public figures.
And it seems users (and advertisers) have abandoned the app following its disastrous redesign.
- Daily active users were 191 million in the period, missing the 194.3 million average analyst estimate, according to data compiled by Bloomberg.
- Revenue rose to $230.7 million, below predictions for $244.9 million.
And as stocks open, it is getting worse – SNAP is now trading with a $10 handle – at all-time record lows – and down 35% from its IPO price (and down 55% from its post-IPO open)…
Mark it zero?