Wednesday, 24 Apr 2019

Analysis firm stated that Snapchat is on the verge of bankruptcy


IllustrationIllustration - Moffet Nathanson analysis firm estimates that Snapchat will lose USD 1.5 billion in money on next year, 2019. This is a danger alarm for Evan Spiegel's social media.The reason is, they only have assets of USD 1.4 billion, as calculated on the third quarter of 2018.

The fact is that they are projected to run out of money before their return target is reached in 2020 or 2021. In addition, in March, they have also laid off around 120 employees. That's 7% of the total workforce owned. Even worse, 40% of the 3,000 employees currently planning to leave. This figure increased dramatically in the range of 29% in the first quarter of 2018, based on Alex Health's Cheddar's survey.

This is certainly a big challenge for them to compete with big names like WhatsApp and Instagram that have story features, just like Snapchat. In fact, the active users of both platforms are way larger than snapchat.

Daily active users for the Status feature on WhatsApp have reached 450 million. While the daily active user of Instagram Stories is 400 million. Snapchat? Only 181 million. In fact, the figure is predicted to fall again in the fourth quarter of 2018, as quoted from Tech Crunch, Sunday, October 28th 2018.


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