Snap founders won’t sell shares despite plummetting price

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    Snap has an awful Q2 earnings report…but at least its dancing AR hot dog was viewed 1.5 billion times. To prove their confidence, co-founders Evan Spiegel and Bobby Murphy have agreed not to sell any shares this year, and the company will withhold shares their owed to pay for any necessary taxes.

    Snap glossed over its shortcomings in user count and revenue to focus on several vanity metrics during its earnings call. Publisher Story views are up 30% quarter-over-quarter. Snap doubled the number of original “Shows” that premiered on its platfrom in Q2 vs Q1, with some getting over 10 million views per episode. 250 million Snaps are saved to Memories each day. And since launching its Snap Map that shows what other people are doing around the world, submissions to Our Story have increased 30%.

    Featured Image: David Paul Morris/Bloomberg/Getty Images



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