Thursday , December 3 2020

Evan Spiegel says Snap Inc (NYSE: SNAP) will maintain its independence



Snap Inc (NYSE: SNAP) started its commercial operations as a camera company, but has diversified its activities over the years. The main product of the business guru is Snapchat, which is an effective communication application. Uses images commonly referred to as snaps and also some short videos. Evan Spiegel, the company's CEO on Thursday, expresses great optimism about the company's future.

The leader outlined Snap would defend its independence even in the next five years.

Spiegel's take

Andrew Ross Sorkin works with CNBC and he addressed the question on the official today. The leader responded promptly expressing high levels of optimism. The DealBook conference is an annual event held in New York. This time, a significant number attended. The company employee took some time assuring them of the future and their plans.

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Sorkin pushed the leader to answer some critical questions. That employee wanted Spiegel to disclose if there was a compelling reason to sell the company.

Spiegel said, "We have a real belief in what we are trying to accomplish and we believe that this is fundamentally different from what we are seeing in the world. We really just want to make sure we can continue to make that vision real."

A close perspective

The official admits that, as a company, they had a hard time this year. They have lost a significant number of company executives. This resulted in the company's stock down by a huge margin.

The company has maintained great popularity among teenagers over the years. Snap seems to be losing business for the fast instagram on the rise.

The leader admits that the challenges have affected them, but again he applauds the company's employees. According to him, these employees have shown great commitment to help the company move forward.

This company also helped a significant number of users participate in their voting exercise. Snap asks young people to participate in their voting exercise.

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