Snap CEO Evan Spiegel addresses US economic slowdown risks and outlines revenue diversification strategy.

Snap CEO Evan Spiegel expressed concerns about potential U.S. economic slowdowns linked to proposed tariffs and taxes by presidential candidates. In an internal letter, he highlighted Snap's strategy to diversify its revenue, focusing on augmented reality and new advertising formats. Despite a 48% drop in stock this year, Snap anticipates record annual revenue of $5.35 billion, driven by growing user engagement and a global community exceeding 850 million.

September 03, 2024
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