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SNAP and the Fragile State of Digital Advertising
Snap, Inc (NYSE: SNAP) has been snapping lately. And we don't mean that in the good way of making music with your fingers -- but rather that it's showing serious signs of breaking as a business.
Snap reported slowing growth and disappointing guidance in its recent third quarter report, which prompted a rather significant restructuring of the entire company. CEO Evan Spiegel announced Snap would be laying off 20% of its workforce and sunsetting several of its growth initiatives in order to prioritize free cash flow generation. Among the programs that are getting cut is its 'Snap Originals…
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