Snap keeps its data very close to its vest according to a report in The Daily Beast. The publication's tech reporter Taylor Lorenz who broke this story explains data she uncovered that suggests Snapchat is much more of a chat app than previously perceived.
"I got a hold of 5 months of daily active user information for nearly every feature of the app," said Lorenz. "Only about 20 percent of the app's users use Snapchat Discover." Lorenz said this could be disappointing to Snap investors.
"Internally the consensus is if the stock drops below $10 a share for a significant period of time I think they would walk," said Lorenz who interviewed several former and current employees for this story. Snap is currently rolling out a redesign of the app. Lorenz says this could be a "make or break" moment for the platform.
Farmers Insurance became the latest property insurance company to pull out of Florida on Tuesday despite repeated efforts by Republican Gov. Ron DeSantis and the Legislature have made to try to calm the volatile market that is making homeownership less affordable.
Nearly 30,000 people in Mississippi were dropped from the state's Medicaid program after an eligibility review that the government ended during the pandemic.
Unionized Hollywood actors on the verge of a strike have agreed to allow a last-minute intervention from federal mediators but say they doubt a deal will be reached by a negotiation deadline late Wednesday.
Squeezed by painfully high prices for two years, America’s households have gained some much-needed relief with inflation reaching its lowest point since early 2021 — 3% in June compared with a year earlier — thanks in part to easing prices for gasoline, airline fares, used cars and groceries.
A federal judge has handed Microsoft a major victory by declining to block its looming $69 billion takeover of video game company Activision Blizzard. Regulators sought to ax the deal saying it will hurt competition.
