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(Reuters) – Snap Inc.'s Parent of Snapchat Messaging (SNAP.N) CEO, Evan Spiegel, has set a goal of achieving profitability for the year in 2019 and has presented a new set of strategic goals, the online Cheddar press service said on Thursday. a memo.
FILE PHOTO: Snapchat President Evan Spiegel attends the first day of the Allen and Co. Annual Press Conference in Sun Valley, Idaho, July 8, 2015. REUTERS / Mike Blake
In the memo dated Sept. 26, Spiegel admitted that Snapchat had "proceeded with a rushed overhaul, solving a problem, but creating many others," reported Cheddar.
Snap did not immediately respond to a request for comment.
In August, Snap announced its first-ever drop in the number of daily users, mainly due to the redesign, but exceeded quarterly revenue estimates by focusing primarily on the sale of self-serve ads.
Stocks closed at $ 7.80 on Thursday.
Reportage of Mekhla Raina in Bengaluru; edited by Diane Craft
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