Snapchat is on the ropes, but it’s not down and out
So Bad So Good’s co-founder Alex Wain considers what Snap’s eye-watering product losses could mean for the future of the platform.
This week has been a rough one for Snapchat CEO Evan Spiegel and his animated hotdog.
His company Snap Inc posted a eye-watering net loss of $443M in the third quarter. To put the sheer enormity of that figure into perspective, they lost $514.6M in the WHOLE of 2016.
To say they’re burning through cash might be the understatement of the year. As a result, their share price continues to go from bad to worse, limping to just $12.33 from a high of $27.09 in March when they first went public.
