Snapchat CEO Evan Spiegel has addressed the platform’s employees to convey his plans to avoid a company’s debacle. And it’s Snapchat is forced recently laid off 20% of its staff and cancel several projects due to the poor evolution of its business.
Snapchat CEO wants users to reach 450 million by the end of 2023
A debacle in which its value rose from $130,000 million to just $20,000 million in just a few months. Despite the bad situation, Spiegel expresses his belief that they will be able to overcome the difficulties in the coming year and expand their user base.
In a lengthy internal document (about 4,000 words) sent to Snapchat employees on September 6, Spiegel points out: 30% growth in users to reach 450 million by the end of 2023. This could see revenue reach $6,000 million next year, of which $350 million would come solely from paid subscriptions to the platform.
Is premium mode, Snapchat Plusintroducing some exclusive features is currently on track to reach 4 million subscribers, a number that could be reached by the end of 2022. spYohedgehog acknowledges that they have not been able to adapt to the complicated international situation (invasion of Ukraine by Russia, rising inflation, rising energy prices…) context.
One of the sectors Spiegel points to to achieve this growth in users is the 30-40 age bracket, in addition to strengthening the content’s links with the local community and promoting the increasingly popular use of augmented reality filters.
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