In a recently leaked internal memo, Snap Inc.’s (NYSE:SNAP) CEO, Evan Spiegel, rallied employees towards new objectives to overcome stagnant growth. The memo, a call to arms, was a clear critique of rival social media platforms and set the stage for the company’s strategic blueprint for 2024.
What Happened: Spiegel’s memo stressed the urgency to act amid several quarters of flat revenue growth, layoffs, and advertising sector challenges, Business Insider reported on Tuesday.
The CEO proclaimed Snapchat’s unique position as a “happy” social media platform and announced plans for user growth in developed markets, an iOS-centric approach, improved ad targeting performance, and unified content and ad interactions across Snapchat’s main features.
“Social Media is Dead. Long Live Snapchat!” Spiegel wrote.
“We’re certainly far from perfect, but while our competitors are connecting pedophiles, fueling insurrection, and recommending terrorist propaganda, we know that Snapchat makes people happy,” Spiegel wrote.
See Also: Apple’s Next-Gen AirTag Launch Said To Be Delayed ...