Snap CEO says two big changes helped boost the stock 175% this year
Summary
Evan Spiegel, co-founder and chief executive officer of Snap Inc., speaks during the New Work Summit in Half Moon Bay, California, U.S., on Monday, Feb. 25, 2019. Snaps stock has been on a tear this year, and CEO Evan Spiegel credits two big changes inside the company for the turnaround. In an interview with The Wall Street Journal, Spiegel said Snaps adoption of a self-serve ad platform, as well as a redesign of its Android app, which was initially poorly received, have helped it turned a corner. Shares of Snap, which is the maker of Snapchat, have bounced back after a rough ride on the public markets in the two years since its IPO in 2017. The company initially faced broad backlash from users around the redesign, which separated content from close friends and brands into two different sections of the app.