What happens to Snap?
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What happens to Snap?
/Snapchat’s business goals continue to shrink. Does Evan Spiegel have what it takes to turn things around?
By Alex Heath, a deputy editor and author of the Command Line newsletter. He’s covered the tech industry for over a decade at The Information and other outlets.
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Every year, in early September, Snap CEO Evan Spiegel sends employees a lengthy letter featuring the company’s big-picture strategy for the next calendar year.
“The exhilarating rush of achieving stretch goals, of building things that matter, of surprising and delighting our community is at the heart of all that we do,” he wrote in this year’s letter, a copy of which I was sent by a source. “But some years, like this one, and the one before it, bring the bruising reality of missing our aspirations by a mile.”
When Snap went public in March 2017, I was on the floor of the New York Stock Exchange watching Spiegel and co-founder Bobby Murphy ring the opening bell. The excitement in the air was palpable.
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