One of the real protests about Snapchat throughout the years has been that it’s too difficult to utilize. As it battles to develop its client base, CEO Evan Spiegel says he is at last recognizing its spoilers, and will update the application.
Amid the organization’s second from last quarter profit call to financial specialists on Tuesday, Spiegel made the sensation declaration, subsequent to itemizing input that the application has been an intense nut to pop open for various individuals. Benefits Custom web design
“One thing that we have heard throughout the years is that Snapchat is hard to comprehend or difficult to utilize, and our group has been taking a shot at reacting to this criticism,” Spiegel said on the call. “Subsequently, we are as of now overhauling our application to make it less demanding to utilize.”
Spiegel added that Snap, the parent company of Snapchat, does not yet know what effects the changes will have on its user base.
“We don’t yet know how the behavior of our community will change when they begin to use our updated application,” he stated. “We’re willing to take that risk for what we believe are substantial long-term benefits to our business.”
Last quarter, Snapchat added just 4.5 million daily active users to bring its total to 178 million. By comparison, Facebook has 2.07 billion monthly active users and 1.37 billion daily active users. Instagram, which implemented some of Snapchat’s most popular features including Stories, recently announced it surpassed 800 million monthly active users.
Spiegel’s comments came on a conference call with industry analysts after the company posted the lackluster user-growth numbers and revenue that fell well short of Wall Street expectations. Snap’s stock was bludgeoned Wednesday, falling 16 percent to $12.70 in early morning trading. The Venice, California, company went public in March at $17 a share.
Snapchat needs to grow its user base beyond 13 to 34 year olds in the U.S., France the U.K. and Australia, Spiegel said. This, he said, includes Android users, people older than 34 and what he called “rest of world” markets.
Meanwhile, Snap said Wednesday that Chinese internet company Tencent has acquired a 10 percent stake in the company. Tencent runs the WeChat messaging app, as well as online payment platforms and games. Earlier this year, Tencent bought a 5 percent stake in Tesla Inc.