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.
Google, Twitter, Facebook and other tech companies fueled by social media have dodged a legal threat that could have blown a huge hole in their business models.
Orlando, FL Mayor Buddy Dyer spoke with Cheddar News about what's in store this summer for his city as Memorial Day weekend kicks off next week and how his administration is navigating certain political challenges.
Teva Pharmaceuticals saw shares rise during Thursday's session after announcing its growth strategy. Richard Francis, president and CEO of Teva Pharmaceuticals, joined Cheddar News to discuss its pipeline of products that the company expects to help revenue.
Brian Jacobsen, chief economist with Annex Wealth Management, joined Cheddar News to discuss the positive sessions for the stock market as investors were optimistic of a debt ceiling deal ahead of the June 1 deadline.
