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.
The Fed is meeting this week to decide on its latest interest rate hike, and one of the big questions going into the meeting is what its thinking about inflation.
TikTok CEO Shou Zi Chew is headed to Congress to testify before the House Energy and Commerce Committee to address questions about the social media platform.
Nicci Levy, the founder and CEO of Alchemy 43, joined Cheddar News' Henna Doba on a Walk and Talk to discuss how the company makes cosmetic microtreatments accessible.
