Home » Tech

Snap stock falls as alleged CEO comments rile some on social media

20 April, 2017, 06:10 | Author: Nadine Todd

Given Facebook has close to 1.8 billion users, a revamped camera app with augmented reality features will only boost usage for the social network, and could further endanger Snapchat's future.

The Twitter-verse is exploding over a tweet made my Mukesh Ambani in response to alleged comments made by Snap CEO Evan Spiegel about not prioritising growth in countries like India and Spain because of them being "poor" countries.

"This app is only for rich people", said Spiegel, according to Pompliano.

The case in question is a lawsuit made by a former employee, Anthony Pompliaono who left the company in 2015. Among a litany of allegations against Snap, Pompliano says that CEO Evan Spiegel once shot down his suggestion to pursue growth in certain global markets.

The dip put Snap on track to close at its lowest level in almost a month, a bad sign following its $3.4 billion public listing that was the hottest by a technology company in three years.

Snap points out that its Snapchat app is a free download, available to everybody.

Responding to the outrage that has followed in India, Snap's spokesperson shared with media, "Obviously, Snapchat is for everyone!"

In a statement Snap said: "Those words were written by a disgruntled former employee".

Soon after Evan made this statement, a hashtag #boycottsnapchat started trending on Twitter urging users to uninstall the app. Adnan too took to Twitter and shared with his fans that he has done his bit.

According to a TechCrunch report, Zuckerberg had this to say, "I think one thing that people probably don't think about as much as we do is innovation to serve everyone in the community, not just the high end, right?"

"This rather looks like a fake database compiled from previously leaked databases, such as LinkedIN, or a minor data breach from a particular Snapchat server or employee's device".

Recommended:

  • Derek Jeter, Jeb Bush combine efforts in bid to buy Miami Marlins

    Derek Jeter, Jeb Bush combine efforts in bid to buy Miami Marlins

    Also briefly mentioned in Hanks' article is a second interested party, NY financier Wayne Rothbaum , "manager" of Quogue Capital. Jeter, a future Hall of Famer, has a house in Tampa, and Bush lives in Coral Gables.

    Fresno killings are a hate crime

    He did call the shootings a hate crime. "These were unprovoked attacks by an individual that was meant to carry out homicides". A Monday posting on Muhammad's Facebook page said "My kill rate increases tremendously on the other side", CBS News reported.
    Gorsuch confirmed; Capito, Manchin with majority

    Gorsuch confirmed; Capito, Manchin with majority

    It was the longest period a seat has remained unfilled on the Supreme Court since during the American Civil War in 1862. Vice President Mike Pence presided over the final vote Friday, even though his vote as a tie-breaker was not necessary.
  • Blackhawks, Blue Jackets look to stave off elimination

    Blackhawks, Blue Jackets look to stave off elimination

    It's fair to question the Blue Jackets coach and his taste in tunes , but Tortorella's pre-game tinkering paid off. Jesper Fast had an unassisted goal for the Rangers, who take on the Canadiens in Game 5 Thursday in Montreal.
    'Groundhog Day' show will go on, star a question mark

    'Groundhog Day' show will go on, star a question mark

    He soon realizes he must take advantage of it in order to secure the love of coworker Rita (newcomer Barrett Doss ). It's not the first time during its Broadway preview period that " Groundhog Day " has found itself in the news.
    North Korea will regularly test missiles

    North Korea will regularly test missiles

    He added that Japan needed to apply pressure on Pyongyang to "seriously respond to a dialogue" with the global community. Chinese Foreign Minister Wang Yi repeated China's line that the crisis could only be resolved by diplomacy.
  • Google Chrome Getting Ad Blocker to Kill Bad Ads

    Google Chrome Getting Ad Blocker to Kill Bad Ads

    Google experimented with generating income without showing display and banner ads on publisher sites in the United States. Bundling an ad-blocker into Chrome would be a big move by Google.

    Redknapp will be paid for Birmingham rescue mission

    It is three games in two weeks, massive games for us, it is a very hard situation we are in but I am looking forward to the challenge.

    Flags half mast for PC Palmer

    Among mourners at the cathedral was new London police chief Cressida Dick, on her first day in the role. Teacher Aysha Frade, who had a Turkish-Cypriot father; Londoner Leslie Rhodes; and USA tourist Kurt W.
  • With Trump Pick Aboard, Supreme Court Tackles Religious Rights

    With Trump Pick Aboard, Supreme Court Tackles Religious Rights

    We're allowed to choose our religious beliefs as our consciences dictate and worship accordingly without government interference. The Supreme Court asked parties for their views on whether the Governor's announcement affects the case.
    Why is Trump celebrating Turkey's democratic crisis?

    Why is Trump celebrating Turkey's democratic crisis?

    Bulent Tezcan, deputy chairman of the Republican People's Party, announced the move at the Ankara offices of the electoral board. Some 2.3 million out of Turkey's 3 million voters overseas live in Germany, Austria, Belgium, France, or the Netherlands.

    Trump administration says Iran complying with nuclear deal

    The move resulted in speculation President Donald Trump's administration is trying to distance itself from Trump's hostile campaign-trail rhetoric on the deal.


Popular

UK leader seeks snap June 8 election to bolster Brexit hand
A win in election will also enable her to set her own policy agenda rather than be bound by that on which Mr. May said the election was to allow the government to strive forward with "unity" in Brexit negotiations.

Samsung's Bixby voice assistant won't work with the Galaxy S8 until Spring
According to Samsung Germany , a customer was provided with details of Bixby's arrival in the German language. Samsung told Express.co.uk that the feature will be pushed-out to UK Galaxy S8 owners later this year.

Easter Governor Ayade greets Christians, enjoins renewed faith in leaders
A Midnight Vigil is conducted on the eve of Easter, followed by "Sunrise Services" on Sunday to signify Jesus' Resurrection. I love Easter because I love the fact that we still dye Easter eggs - not just because we HAVE to, but because we WANT to.

Republican Holds On in Closely-Watched Kansas Special House Election
The suburban Atlanta district is the type of place where Democrats are pinning their hopes on recapturing the House next year. A glance at local Kansas papers reveals just how much public discontent with the governor influenced this race.

Brighton clinch promotion to Premier League with 2-1 win over Wigan
They have a solid defence and a player with some magic, in Knockaert, but perhaps their biggest asset is the age of their squad. We've recruited very well, the team spirit is fantastic and he has done remarkably well in a very tough league.