Snap Inc (NYSE:SNAP) started its business operations as a camera company but it has diversified its activities over the years. The business guru’s major product happens to be Snap chat which is an effective communication application. It employs images commonly referred to as snaps and also some short videos. Evan Spiegel, the company’s CEO on Thursday expresses great optimism about the company’s future.
The leader outlined Snap would uphold its independence even in five years to come.
Andrew Ross Sorkin works with CNBC and he directed the question at the official today. The leader answered promptly expressing high levels of optimism. The DealBook conference happens to be an annual event conducted in New York. This time around, Quite a significant number attended it. The company official took quite some time assuring them about the future and their plans.
Sorkin pushed the leader to answer some critical questions. This official wanted Spiegel to disclose whether there was a compelling reason for them to sell the company.
Spiegel stated, “We have a real belief in what were trying to accomplish, and we believe that it’s fundamentally different from what we’re seeing in the world. We really just want to make sure that we can continue to make that vision real.”
A close outlook
The official admits that that as a company they have had it quite rough this year. They have lost quite a significant number of the company executives. That has resulted in the company’s stock plunging by a huge margin.
The company has upheld great popularity among teenagers over the years. Snap seems to be losing business to the fast rising instagram.
The leader admits that the challenges have taken a toll on them, but again applauds the company’s Employees. According to him, these employees have showcased great commitment to helping the company move forward.
This company has also assisted quite a significant number of its users participate in its voting exercise. Snap calls upon the young to participate in its voting exercise.