‘Worrying failure: Snap handed enforcement notice by UK information watchdog over AI chatbot October 6, 2023 The UK’s information watchdog has said Snapchat may be required to “stop processing data” related to its AI chatbot after issuing a preliminary enforcement notice against the technology business. UK Information Commissioner John Edwards said the provisional findings of a probe into the company suggested a “worrying failure” by Snap, the app’s parent business, over [...]
Snap to close new augmented reality division after launching in March September 27, 2023 Snap announced today that it is shutting down its augmented reality services division just months after it launched.
Scoring Gen Z attention: Snap teams up with Sky Sports in new content deal November 1, 2022 Snap has announced a renewed content partnership with Sky Sports UK to host made-for-mobile, short-form content on Snapchat Discover. Sky Sports, a content partner since 2015 with over 1.8 million Snapchat subscribers, will publish highlights from every single Premier League football match, Women’s Super League highlights, behind the scenes content, clips from Soccer AM, Monday [...]
Tech stocks get ready for a rocky road ahead October 24, 2022 BIG TECH braces itself for another testing earnings season, as the biggest names in Silicon Valley post their quarterly figures this week. Kicking off the tumble last Friday, Snapchat posted a rocky quarter, citing squeezed ad spend and ongoing macroeconomic uncertainty as the main driver. Not only has Snapchat’s parent firm lost a quarter of [...]
Advertising cuts continue to sting Snapchat October 21, 2022 Snapchat’s growth continued to plateau this quarter as the advertising slump continues for the social media company. Falling well below most Wall Street estimates, Snap’s said revenue climbed a humble six per cent to $1,13bn, while net losses widened from $72m to $360m. Adjusted earnings before interest, taxes, depreciation, and amortisation was $73m, compared to [...]
Snap snaps and Big Tech feels the heat: What’s next for advertising? September 6, 2022 City A.M. chats with sustainable advertising platform WeAre8 to chat about the future of advertising in an age of distraction and economic turmoil.
Snap culls workforce by a fifth as firm scrambles for revenue growth August 31, 2022 Snap confirmed that it would be cutting its 6,500-strong workforce by a fifth as it struggles to ride the advertising slump.
Losses deepen for Snap despite growing daily users July 22, 2022 Snapchat owner Snap posts deeper losses in the second quarter, as well as dwindling revenue growth.
Snap trials NFT filters as tech firm fights for Gen Z attention July 13, 2022 Snap may be on the verge of non-fungible token filters as the tech company continues to battle its rivals.
Snapchat’s shares slump as chief exec warns against revenue and hiring slowdown May 24, 2022 Snapchat has warned it would be slowing its hiring process, warning investors that revenue would slow in the coming months, hitting the low-end of estimates.