Sunday April 16, 2017

Snapchat CEO Says App Is Only for Rich People

Huh? I thought Snapchat’s primary target was teenagers, who are usually, you know, poor. A lawsuit filed by an ex-employee has revealed that the Snapchat CEO thinks his app is reserved for the rich, which is additionally weird because it reminds me of a kid’s app every time I see it. This is all part of the bigger drama surrounding Snap, which is being accused of inflating its worth and metrics.

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At a meeting to discuss Snapchat’s user growth in 2015, Anthony Pompliano says he expressed concern that the app was not taking off overseas. Pompliano, who had just been hired away from Facebook, contends that he presented methods to address the issue, but that Evan Spiegel, the company’s CEO, abruptly cut him off. "This app is only for rich people," Spiegel said, according to Pompliano. "I don’t want to expand into poor countries like India and Spain." The allegations are contained in Pompliano’s lawsuit, filed in redacted form in L.A. Superior Court in January. On Monday, Snap Inc. آ— the parent company of Snapchat آ— dropped its efforts to keep the unredacted complaint under seal and released it in a public filing.