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.
Amazon is discontinuing its decade-old philanthropic program, AmazonSmile, which allowed customers to donate 0.5 percent of the cost of their purchase to select charities.
Volkswagen U.S. CEO Pablo Di Si joined Cheddar New to discuss record quarterly electric vehicle sales and his reaction to Tesla trimming prices on some vehicles by 20% last week. “We'll continue with our pricing strategy, we're not cutting prices on the vehicle's quality over quantity and product content,” he said.
