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Snap CFO Tim Stone Is Resigning

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Re: Snap CFO Tim Stone Is Resigning

#41

Post by carsonfarmer »

carsonfarmer wrote: post #40
Mizza wrote: post #2

Snap is the living dead now. No users left after boneheaded redesign, all their ads running are promoting their competitors, employees I know are basically pulling the copper wire out of the walls. Abandon ship! Also, will somebody please make a simple private picture app for grown-ups? I'd love to be able to share stuff with my sig other/parents/grandparents - and that's it. I can't recommend SnapChat in the state i…

Check out https://textile.photos (full disclosure, I'm on the team)!

You can email contact@ textile.io for a referral :)

Re: Snap CFO Tim Stone Is Resigning

#42

Post by mrandish »

shanghaiaway wrote: post #33
gammateam wrote: post #19

1 year cliff, non-news Still bad news for Snap confidence, of course edit: didn't make it 1 year, whoops hope they got the golden parachute negotiated in

Useless comment. Lasted 8 months at Snap, 20 years at Amazon. Something is clearly wrong with Snap, and it's their CEO.

I'm gonna have to agree with you on that. Successful 20 year veteran execs don't make big leaps lightly. Pulling the plug this quick is a very bad sign and you can't really blame "creative differences" or disagreements over control. In a public company the CFO role is well-defined and not subject to much creative opinion.

At a certain point you gotta start blaming the guy at the top.

Re: Snap CFO Tim Stone Is Resigning

#43

Post by draw_down »

umeshunni wrote: post #38

While Snap's poor product decisions and failing business are constantly called out in the media, what I don't see covered as much about the company is that their executives managed to massively enrich themselves by paying themselves huge bonuses right before the IPO and subsequent stock collapse. Their "Chief Strategy Officer" Imran Khan: $100M+ https://www.businessinsider.com/snap-ceo-evan-spiegel-cfo-im... CEO Evan…

[dead]

Re: Snap CFO Tim Stone Is Resigning

#44

Post by joegahona »

VectorMath wrote: post #26
Mizza wrote: post #2

Snap is the living dead now. No users left after boneheaded redesign, all their ads running are promoting their competitors, employees I know are basically pulling the copper wire out of the walls. Abandon ship! Also, will somebody please make a simple private picture app for grown-ups? I'd love to be able to share stuff with my sig other/parents/grandparents - and that's it. I can't recommend SnapChat in the state i…

I use Google photos, primarily because of how friendly it can be cross-platform. It's especially helpful that I can easily build custom albums with just a couple of taps and usher it out to any contact, regardless of whether or not they already have an account set up. Sending invites over text message or any other messaging platform is dead simple. I used to support Apple's shared albums but I haven't been engaged wi…

Mike Elgan wrote a post about this: https://elgan.com/blog/how-to-replace-facebook-with-nicebook

Perhaps Google will quietly sunset their Photos product in the next fiscal year...

Re: Snap CFO Tim Stone Is Resigning

#45

Post by toast0 »

GenerocUsername wrote: post #34
pavlov wrote: post #14

Earlier quoted context omitted.

The guidance was a loss between $100 and $75 million for the quarter, so even if they slightly beat that, it’s not doing much to stop the bleeding.

Jesus. A picture sharing app bleeding 100 million a quarter sure sounds like a industry-wide valuation issue. Glad I bailed on some SNAP interviews a few months back.

They've got a 5 year, $2 billion contract with Google for cloud services. There's $100 million / quarter right there. Plus they have staff.

Yes, servers cost money, but locking in that cost doesn't make sense to me, because it makes it very hard to reduce costs, even if you invest developers in efficiency.

Re: Snap CFO Tim Stone Is Resigning

#46

Post by roymurdock »

umeshunni wrote: post #38

While Snap's poor product decisions and failing business are constantly called out in the media, what I don't see covered as much about the company is that their executives managed to massively enrich themselves by paying themselves huge bonuses right before the IPO and subsequent stock collapse. Their "Chief Strategy Officer" Imran Khan: $100M+ https://www.businessinsider.com/snap-ceo-evan-spiegel-cfo-im... CEO Evan…

there is a lawsuit pending that focuses on snapchats potential misrepresentation of instagrams size and effect on the mkt

investors should've done their own due diligence on that, what i believe is more likely is that snapchat misrepresented its user numbers pre IPO as alleged by a fired employee in 2015

investors wouldn't have cared if the stock went up, but it went down so they need to find an actual tangible way that snapchat lied to them to recoup any money from a bad bet

Re: Snap CFO Tim Stone Is Resigning

#47

Post by dudus »

joegahona wrote: post #44
VectorMath wrote: post #26

Earlier quoted context omitted.

I use Google photos, primarily because of how friendly it can be cross-platform. It's especially helpful that I can easily build custom albums with just a couple of taps and usher it out to any contact, regardless of whether or not they already have an account set up. Sending invites over text message or any other messaging platform is dead simple. I used to support Apple's shared albums but I haven't been engaged wi…

Mike Elgan wrote a post about this: https://elgan.com/blog/how-to-replace-facebook-with-nicebook Perhaps Google will quietly sunset their Photos product in the next fiscal year...

Perhaps they will. You better hurry and use this great product before it's gone.

Re: Snap CFO Tim Stone Is Resigning

#48

Post by kbenson »

hart_russell wrote: post #37
__alias wrote: post #35

Earlier quoted context omitted.

Funny, in my group of friends (for context 21-24 year olds, NZ) snapchat is used far more than Instagram. The primary appeal of snapchat is we can very easily send disposable ugly unfiltered often funny vids/images to groups of people. Where as Instagram is more of a social media and is just used for casual content consumption onl

My 20 something friend group has been consistent with snapchat since ~2013

I suspect that unless forced to migrate, or really nasty stuff comes to light, most people will use what they are used to, with the people that are used to doing it with. If a group stabilized on a platform and knows everyone has it and those people and be reached and expect to be reached on it by them, why change? Who wants to be the "hey, let's all just switch to some random new thing" person after you're old enough to be too busy to see most the people all at the same time in real like that often anyways?

Re: Snap CFO Tim Stone Is Resigning

#49

Post by opencl »

foobaw wrote: post #28

Is Snap actually dying? I recall there were similar news for Apple, Facebook(debatable on their current state) etc, but they rebounded back up. Maybe this is the time to buy low and make it big (when everyone is doubting them). It'll be interesting to see.

They released a horrendous UI redesign and user count has been dropping for two quarters in a row now. IG's Stories feature (basically a snapchat clone) has 2x the active users of Snap and IG as a whole has over 5x the active users, and they are still growing while Snap is shrinking.

They've been operating for over 7 years and have yet to turn a single quarterly profit. With negative growth the past two quarters it's looking increasingly unlikely they'll ever be profitable.

Re: Snap CFO Tim Stone Is Resigning

#50

Post by rb666 »

Mizza wrote: post #2

Snap is the living dead now. No users left after boneheaded redesign, all their ads running are promoting their competitors, employees I know are basically pulling the copper wire out of the walls. Abandon ship! Also, will somebody please make a simple private picture app for grown-ups? I'd love to be able to share stuff with my sig other/parents/grandparents - and that's it. I can't recommend SnapChat in the state i…

What's wrong with using WhatsApp for this? That's what everyone I know does.
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