Snap plunged more than 15% in after-hours trading after CEO Evan Spiegel announced a major revenue miss in the company’s third quarter. It’s the latest bad news for the firm facing intense competition from Facebook, and who’s Spectacles — which added $40 million to the company’s losses — were a flop. On the bright side: Chinese giant Tencent sees the company’s woes as a buying opportunity, announcing today that it would take a 10% stake. Spiegel also said yesterday that the company would redesign its core product, in the hopes of making Snapchat easier to use (and easier for advertisers to understand, as it fights for ad dollars).  Share your thoughts: #SnapTroubles

What do you think this means for Snapchat??

Answer rating: 100% (QA)

The recent struggle for Snapchat was due to the entry of new features introduced by the co... View the full answer