Pivot Snap Inc.'s Evan Spiegel at Code 2022
18 snips
Sep 10, 2022 
Evan Spiegel, CEO of Snap Inc., opens up about the company's significant struggles in 2022, including layoffs and revenue drops. He shares insights on navigating challenges while emphasizing the importance of augmented reality for future growth. The discussion touches on competition with TikTok, investor expectations, and balancing innovative strategies with operational changes. Spiegel also highlights Snap's shift to focus on technical innovation, underscoring the commitment to community engagement and personalized content.
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Macroeconomic Impact on Snap
- Snap's revenue growth declined from 44% to 8% due to macroeconomic changes, including the war in Ukraine and rising inflation.
- These changes led to reduced digital advertising spending, impacting Snap's revenue.
Focusing on Direct Response Advertising
- Focus on low-funnel direct response advertising for revenue growth during uncertain times.
- This type of advertising is easy to measure and delivers clear business results, making it valuable even during economic downturns.
Snap's Strategic Priorities
- Despite layoffs and project shutdowns, Snap continues to prioritize community growth, revenue growth, and augmented reality (AR) investment.
- AR is a key part of Snap's long-term strategy, with millions of daily users engaging with it on the platform.