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In India, 200 million users is a relatively small number; we have room to grow: Snap cofounder Evan Spiegel

Economic Times

Economic Times · 1y ago

In India, 200 million users is a relatively small number; we have room to grow: Snap cofounder Evan Spiegel

Snap Inc, the parent company of Snapchat, has seen substantial growth in its Indian user base, doubling to 200 million monthly users in a year. The company aims to continue expanding its reach and is investing in monetization efforts in the Asia-Pacific region. Snap's CEO, Evan Spiegel, highlighted the company's focus on visual communication and emphasized the opportunities in India due to its young demographic. He discussed Snap's growth, AI and augmented reality, and monetization efforts in India during his visit.

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Snapchat empowering 200 million users in India with AR experiences: CEO Evan Spiegel

Economic Times

Economic Times · 1y ago

Snapchat empowering 200 million users in India with AR experiences: CEO Evan Spiegel

Snapchat CEO Evan Spiegel expressed excitement about the explosive creativity happening in India and highlighted the potential of AR experiences in the country. With 200 million users in India, Snapchat plans to bring the festive spirit to life for its Indian users with Diwali-themed AR lenses. Spiegel emphasized the importance of AR in India's future and the opportunities it brings for self-expression and learning. Snap is committed to empowering creators and supporting their aspirations through monetization avenues and innovative tools. The Indian AR creator community on Snapchat has witnessed significant growth and Snap recently launched the Lens Creator Rewards program to reward top-performing AR creators.

Snap to focus on growing ads business, augmented reality amid poor stock performance

Economic Times

Economic Times · 10m ago

Snap to focus on growing ads business, augmented reality amid poor stock performance

Snap CEO Evan Spiegel has announced plans to focus on expanding and diversifying the company's advertising business, particularly in the area of augmented reality. The move comes as Snap competes with social media giants like Meta Platforms and TikTok for advertising revenue. Despite the company's progress, its share price has lagged behind due to slower growth in its advertising business compared to competitors. In addition to ramping up advertising efforts, Snap is also investing in developing augmented reality glasses and has launched generative AI tools for users.

'What does yaada yaada yaada mean?': Zuckerberg, Spiegel grilled by Senator John Kennedy

Economic Times

Economic Times · 1y ago

'What does yaada yaada yaada mean?': Zuckerberg, Spiegel grilled by Senator John Kennedy

In a hearing lasting nearly four hours, US senators questioned CEOs of Meta, TikTok, Snap, X, and Discord on online platform safety. Senator John Kennedy targeted Meta's Mark Zuckerberg and Snapchat's Evan Spiegel over user agreements. Watch the video for more details, click on "SOURCE" below.

Snap to close augmented reality division for enterprises

Economic Times

Economic Times · 1y ago

Snap to close augmented reality division for enterprises

Snap Inc is shutting down its augmented reality (AR) division, AR Enterprise Services (ARES), just months after its launch due to challenges in attracting businesses. This move will result in approximately 170 job cuts. Snap, the maker of Snapchat, had launched ARES in an attempt to diversify revenue beyond advertising but found it difficult to gain traction. CEO Evan Spiegel cited the rising adoption of generative artificial intelligence as a challenge in differentiating Snap's AR offering. The company will refocus its resources on its core advertising business.

Snapchat to focus on advertising business as stock drops around 48 per cent | Mint

Livemint

Livemint · 10m ago

Snapchat to focus on advertising business as stock drops around 48 per cent | Mint

Snapchat is focusing on expanding its advertising business and prioritizing augmented reality (AR) to catch up with competitors like Instagram and TikTok. The company's CEO, Evan Spiegel, acknowledged that their advertising business has been growing slower than rivals and is taking steps to revamp the marketing strategy. Snapchat plans to experiment with new ad formats, including ads in the chat inbox and on the Snap map feature. They also aim to develop AR glasses to enhance user experiences. Snap's stock has been struggling, but they are committed to driving growth in the coming years.

Snap failed to warn users about sextortion risks, state lawsuit alleges

Livemint

Livemint · 9m ago

Snap failed to warn users about sextortion risks, state lawsuit alleges

- Internal documents reveal that Snapchat was receiving 10,000 reports of sextortion each month in November 2022, with the actual number likely being much higher due to underreporting. - Snap was informed that the combination of its young user base and disappearing messages could lead users to believe that sexting on the app was safe. - An internal marketing document acknowledged that sexting had become a regular behavior among Generation Z, presenting a challenge for Snap to promote safety without discouraging usage. - Despite concerns about sextortion, Snap claims that sexting only accounts for a small fraction of messages exchanged on the platform. - Tests conducted by New Mexico investigators and even Snap employees found fault with Snap's safety-enhancing features, including continued exposure of minors to adult strangers through its "Quick Add" friend recommendations feature. - The state accuses Snap of pursuing growth initiatives that pose risks to young users and designing features that increase engagement while hindering user self-regulation.

India needs to grow beyond being AI 'use case' capital: Bhavish

Inshorts · 1y ago

India needs to grow beyond being AI 'use case' capital: Bhavish

Entrepreneur Bhavish Aggarwal said India needs "to grow beyond just being the AI 'use case' capital of the world". "We became the social media use case capital of the world with the highest number of users for global platforms," he stated. "Everyone knows the strategic risk we have because of this and not having our...tech [and] platforms," he added.

Snap to invest more to continue conversation with young India: Snap India MD Pulkit Trivedi

Economic Times

Economic Times · 1y ago

Snap to invest more to continue conversation with young India: Snap India MD Pulkit Trivedi

Snap Inc is continuing to invest in India as it sees the country as a growth market with potential for monetization. Despite Snap's focus on North America and Europe, Snap India Managing Director Pulkit Trivedi stated that the company will invest more in the US while also investing in the momentum observed in India and the Asia Pacific region. Trivedi emphasized the digital advertising potential in India and the growing Gen Z population. With over 200 million monthly users, Snap aims to engage with brands across various industries and expand its advertiser base in India. The company is also focused on improving its ad-tech products and delivering value to advertisers.

Biggest DDoSes of all time generated by protocol 0-day in HTTP/2

Arstechnica

Arstechnica · 1y ago

Biggest DDoSes of all time generated by protocol 0-day in HTTP/2

Threat actors recently carried out massive distributed denial-of-service (DDoS) attacks using a novel technique called HTTP/2 Rapid Reset, exploiting a vulnerability in the HTTP/2 protocol. These attacks were the largest in Internet history and reached unprecedented levels of intensity, peaking at 201 million requests per second. Despite the relatively small number of malicious machines involved, the attacks caused intermittent errors for legitimate users trying to connect to websites, exposing the menacing potential of this vulnerability. The HTTP/2 protocol, introduced in 2015, allowed for higher utilization of connections, making it attractive for DDoS attacks.

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Economic Times

Economic Times · 8m ago

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Snap, the parent company of Snapchat, exceeded Wall Street's expectations in terms of quarterly revenue and user growth. The company has been successful in attracting advertisers back by improving its ad features. Snap also announced a share repurchase program worth up to $500 million. While Snap initially experienced a stock decline after the news, shares eventually rose to $12. The company has faced challenges from competitors like Facebook and Meta Platforms, but has invested in machine learning and made advertising on Snapchat more accessible to small and medium-sized businesses. In Q3, Snap's revenue reached $1.37 billion, surpassing the average analyst estimate. Snap anticipates Q4 revenue between $1.51 billion and $1.56 billion, and the company expects its new ad formats to boost demand from large advertisers. Daily active users grew by 9% YoY to 443 million, surpassing analyst estimates of 441 million. Snap also reported adjusted earnings per share of 8 cents, higher than the anticipated 5 cents.

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