Snap VP of Marketing to Leave as Company Seeks New Strategy to Reignite Growth
*By Alex Heath*
Snap’s Vice President of Marketing, Steve LaBella, is leaving the company, Cheddar has learned.
A former marketing executive at Mattel, LaBella joined Snap ($SNAP) in May 2016 and oversaw the company’s marketing efforts, including Snapchat’s first national TV campaign earlier this year. He announced to employees that he is leaving Snap last week, according to a person familiar with the matter.
A Snap spokesperson confirmed LaBella's departure to Cheddar on Friday and said he would stay through the end of November.
“Steve has been a valuable member of our team, building our consumer marketing department and continually finding new ways to surprise and inspire the Snapchat community," Snap said in a statement. "We are grateful for all of his hard work and many contributions and wish him the very best.”
LaBella is the latest in a long string of executive departures from Snap since the company’s public offering in early 2017. Senior executives who have either left or announced their intention to leave since the IPO include the Chief Strategy Officer, Senior VP of Engineering, Chief Financial Officer, VP of Product, VP of Sales, General Counsel, Chief Security Officer, VP of Hardware, and VP of Communications.
In a 15-page memo to employees that was [first published by Cheddar on Thursday](https://cheddar.com/videos/snap-ceo-evan-spiegel-company-memo-on-2019-strategic-goals-and-profitability), Snap CEO Evan Spiegel said that one of the company’s goals is to change “our marketing and communications around Snapchat” and better educate advertisers about how to use the app.
“In the past, we've tried to make presentations or videos to explain Snapchat to advertisers; this year we are going to spend less time explaining and more time helping advertisers learn by using our product,” Spiegel wrote. “This challenge extends to anyone at Snap that interfaces with our partners, the media, or Wall Street. Rather than trying to explain everything, let's help people use the product themselves.”
Snap’s controversial redesign led to its first-ever decline in daily active users in the second quarter, and the stock is trading at all-time lows. In his memo to employees, Spiegel said that the company would aim to achieve full-year profitability in 2019, despite it posting a net loss of $353.31 million last quarter.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.