Inside Snap's Culture of Secrecy

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.

More In Business

When It Comes to the Economy, There’s ‘A Lot to Be Optimistic About’

Business is booming, interest rate cuts aren’t desperately needed, and, consumers are in what one analyst calls ‘pretty good shape.’

More People Are Making 'no-buy year' Pledges. Should You?

The self-imposed rules of a no-buy challenge are simple: participants pledge to stop buying non-essential items.

Forget Inflation: American Consumers Want Travel and Experiences

Americans may be exhausted by inflation, but they aren't holding back when to comes to spending on travel and experiences.

The U.S. Can Avoid a Recession – But Higher Prices Are Here to Stay

Companies like Target, Walmart, and Amazon may be cutting prices – but consumers should get used to paying more than they did pre-pandemic.

Buy Now, Pay Later Must Act Like A Credit Card Company

The Consumer Financial Protection Bureau says that buy now, pay later lenders are basically credit card providers and must provide the same protections.

Here’s Why You Might Want a Second Passport

You don’t have to be a millionaire to take advantage of a second passport.

Millennials, Rejoice! Mortgage Rates Drop Again

If interest rate cuts materialize later in the year, rates heading towards 5% could start to unstick the stubborn housing market, this analyst says.

CT AG on Ticketmaster & Live Nation: ‘Everybody Knows Its a Monopoly’

The DOJ is suing Ticketmaster and Live Nation, and Connecticut AG William Tong joined the suit in hopes to 'open up competition.’

Big Business This Week: Russia Runs Out of Gas and ScarJo Takes on AI

Plus, the Department of Justice takes on the goliath that is Ticketmaster. Are Swifties to thank?

PepsiCo Partners With Children Of Fallen Patriots Foundation

PepsiCo's "Rolling Remembrance" American Flag Relay Puts Veteran Drivers at the Wheel to Raise Funds and Awareness for Children of Fallen Patriots Foundation

Load More