Yesterday, the hour of truth came to Snapchat and announced its first financial results for the first quarter after the IPO. The report was disappointed with losses of over 2 $ billion, a terrible slowdown in user growth and an uncertain outlook for the future confirmed by the company saying it was not sure about profit soon.
After the announcement of the results, the site was filled with a lot of opinions about the huge losses and the start of the troubled company, but Snapchat CEO Ivan Spiegel appeared at the press conference coherently or at least pretended to be cohesive, according to cnbc.
Ivan stressed that the company has a long-term strategy to promote growth using creativity. Spiegel focused on using the word creativity in the press conference to attract many users and advertisers.
About the competition When asked about the fear of Facebook Spiegel laughed and then said that Facebook marketing strategies are not sustainable, so we will rely on our own strategy and focus on creativity in our products.
“People are copying great stuff, but how important it is to be creative,” Spiegel said in a reference to Facebook. “Yahoo has a box to search, but in the end it’s not BOOOOOM !!!!”