Snap's Rollback of Redesign May Signal an Identity Crisis
*By Britt Terrell*
Snap is doing something that is unprecedented in social media. The maker of Snapchat has answered angry users' protests and revamped its app to make it more similar to the original version.
"It's a sign of humility in a way for Snapchat," said Marty Swant, a staff writer at Adweek. "In a way, I wonder if they have a bit of an identity crisis."
Is Snap making a tool for publishers or is the app catering to its core users?
Snapchat's 2017 redesign was meant to bring more people to its publishing page. But loyal users revolted: A petition called for the app maker to revert to the old design, the platform saw its user growth [decline in the last quarter](http://deadline.com/2018/05/snap-inc-snapchat-slowest-growth-earnings-stock-plunges-1202380663/).
As Snap's stock continues to plummet ーit's down nearly 50 percent year-over-year ー the company must figure out ways to appeal to advertisers.
"I think the big picture that Snapchat has now is their ads are a lot more creative than the ads you're seeing on Instagram stories - Snapchat's main competitor," said Swant in an interview Monday with Cheddar. "They're just cooler looking, they're more engaging. I think that's a big play, but the question is, do users actually spend time with them?"
For the full interview, [click here](https://cheddar.com/videos/snap-redesigns-its-redesign).
The second-largest stablecoin, USDC, backed by the company Circle recently received a $400 million funding infusion from traditional financial firms like BlackRock and Fidelity even as crypto reels from more high profile heists.
A group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Between Bells executive producer Conor White recaps some of the biggest stories of the week, and teaches Azia Celestino and Hena Doba a thing or two at the same time. It's This Week In Trivia!
Josh Thorngren, vice president of growth at the cybersecurity company Torq, joined Cheddar News to talk about staffing shortages hitting his industry, and what he thinks is behind it. "Over 70 percent of cybersecurity professionals say they're unhealthily stressed, and it's stress because we only talk about them when they failed," he said. "That makes the job harder day in and day out, and so it's not just a how do we keep up with the rising challenge, it's how do we actually retain folks who are in these positions today." Thorngren also stated that cybersecurity needs to transform into a less technical field in order to appeal to a bigger group of potential workers.
Twitter said in a statement Friday that its board of directors has unanimously adopted a “poison pill” defense in response to Tesla CEO Elon Musk’s proposal to buy the company and take it private.
The Food and Drug Administration has issued an emergency use authorization for what it says is the first device that can detect COVID-19 in breath samples.
Catching you up on what you need to know on April 15, 2022, with four of the victims from the Brooklyn subway shooting still hospitalized as the suspect is held without bail, Russia resumes attacks on Kyiv, teachers across the country receive their largest pay raises in decades, and more.
