Snapchat Stock Down by 38% | Hacker News Reader

Snapchat Stock Down by 38%

bloomberg.com

28 pointsdisqard24 comments

A week ago I logged out of snapchat and I started getting actual text messages within hours saying my friends have uploaded a new story and to log back in.

I instantly knew they weren't hitting their numbers

It's not just Snap that does it. Instagram and Facebook did the same several years ago when I quit, and I haven't received any nag emails in a long time from them.

I didn't say emails, I said "text messages"

Just a week or so ago HN was foaming about how awesome it is that Snap launched a web client. Now wallstreet doesn't like their numbers and the sky is falling. Talk about an "Oh Shit" rollercoaster, ugh.

I've interviewed with snap and I came away unimpressed with their overall vision / focus / direction / trajectory. Their products and core offerings consistently give me the same impression and feeling- kinda impractical, confusing, and/or dumb. What is snap fundamentally about?

Remember that tiny kite picture-taking drone that would not be able to withstand even a small breeze? What were they thinking? I've been to the beach and out and about a lot this year, and have never seen one IRL.

The summation of all their efforts is unfortunate and leaves me a bit sad; the people themselves who work there are amazing and some of the nicest and most caring I've come across in the tech industry. Snap appears significantly less user-hostile than all the other social media platforms. They've pioneered filters and other trendy tech. However, the brand has challenges. I don't necessarily want all my messages constantly disappearing into thin air or constant silly craziness, because it's not useful. These perceptions aren't helpful for getting traction with "regular" people who want to communicate in an easy and predictable way.

Snap bitmojis were a ton of fun at the time, though.

> What is snap fundamentally about?

Selling ads.

TikTok appears to be eating their lunch. There was a while where the teens I know were heavy users of Snapchat, but they all seem to primarily be on TikTok now.

Snap placed a risky bet on the Spotlight feature, going so far as paying out millions to the most popular creators, but when push came to shove, all the same content (and better) was available on TikTok.

Down 84% in the past year, down 38% today... wtf, this just a meltdown.

Is is advertising related - Facebook and Google are down 5-7.5% today too.

SNAP IPO'ed at $17.60 and it's close to 50% of that now, so this isn't just losing the covid-era gains.

So a successful IPO then. Private equity investors made out like bandits

Yeah it was a $100bn company last year! Very successful area to have shares liquidated

Going public is the endgame for SV startups, because VCs and founders can dump their bags. Nowhere else would heavy losses year after year be celebrated because it reflected "growth".

Keep in mind that SNAP did +50% a while back the day FB crashed after a dark earnings call. If you own SNAP, you know you’re in a rocky boat.

They hired the Secret Service guy who deleted Jan 6 texts. Never been a fan of them due to their usage of shadow profiles, I hope any such company goes bankrupt.

Who could be more perfect for a role at Snapchat, though? He's a master of ephemeral media.

Remember shortly after their IPO how people were fawning over them around here? Spectacles, and how they're 'more than just a messaging company' and all of that.

It might be a good time to buy, maybe someone will purchase them above the current trading amount. That's the only way the stock is not going to zero, IMO.

If you come at Facebook you better not miss.

They are now down from a P/E ratio of infinity at their high (up 900%) from now, all the way to their current P/E ratio of infinity at their current Price.

They have never made a penny.

So, not exactly a sale.

http://archive.today/88nTO

Is Snapchat mainly used for nudes and such? Genuine question since I’ve never really used it except to message my pot dealer years ago to coordinate pickups.

I use it with my extended family for sending random pictures. Never see any ads because I never use anything outside of that one group chat. I’d have long since switched to using signal for this but the sister in law isn’t good at learning new tech.

But why? Isn’t everything on there fleeting?

Yeah but that doesn’t matter. It’s not supposed to be this curated feed of high quality stuff. Just an ephemeral snapshot of what the baby did today, usually. It could just as easily be a group iMessage but then we’d have to each periodically delete the pictures and videos as our phones run out of space.

Feels bad man....They turned down $3bn acquisition offer from Facebook and now they will slowly fade out of the importance.

I know their market cap is multiple times greater than $3bn they were offered but still they can't survive on their own in the long term.

They also supposedly turned down acquisition offer from Google which was greater than Facebook's $3bn. Maybe they will come back to it again when ad spending starts flowing to TikTok and other competing screen attention apps.

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