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Search resuls for: "Jerry Hunter"


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Snap's new mass layoff impacted workers in a range of roles across the company. Another perceived Snap in recent months as a company in "managed decline." C-suite executives who were hired or promoted, like Jerry Hunter and Jeremi Gorman, respectively, to build up and manage Snap's business, are gone and are not being replaced, as CEO Evan Spiegel is taking on oversight of the business. Engineering leaders, too, left the company in recent months. Snap has hired some new executives, like Patrick Harris, Ronan Harris, Darshan Kantak and Eric Young, but none are in the c-suite.
Persons: Evan Spiegel, Snap's, Spiegel, Jerry Hunter, Jeremi Gorman, Patrick Harris, Ronan Harris, Darshan Kantak, Eric Young Organizations: Business, Workers, Monday, BI, Meta, Apple, Engineering Locations: North America, California
The Snapchat company let go of several dozen staffers on Friday, according to two people familiar with the company. Many Snap employees took the memo as a hint that more company changes were coming. Staffers have been "on pins and needles" about layoffs in recent weeks, according to one of the people familiar with the company. In September, Snap let go of about 150 people after shutting down a short-lived division for creating augmented reality tools for businesses. Evercore senior managing director Mark Mahaney said in mid-January that "Snap has yet to snap back."
Persons: Evan Spiegel, Spiegel, It's, Jerry Hunter, Hunter, Snap's, Nima Khajehnouri, Bernstein, Evercore, Mark Mahaney Organizations: Business, Meta, Block, PayPal
Evan Spiegel is having an "Elon moment," according to a report from the The Information citing staff. The 33-year-old Snap CEO is taking a hands-on approach and asking employees to work harder. Business Insider reported in October that staff in Snap's ad business are struggling with nitpicking and micromanagement. Several employees who left the company recently told The Information that Snap's 33-year-old cofounder and CEO Evan Spiegel is in his "Elon era" or "Elon moment," as he makes decisions emulating the billionaire's "hardcore" work culture at X — formerly Twitter. Snap's advertising business makes up a huge chunk of its revenue.
Persons: Evan Spiegel, Elon, , Elon Musk, Spiegel hasn't, Musk, Spiegel, Nima Khajehnouri, Jeremi Gorman, Peter Naylor, Snap's, Jerry Hunter, we're Organizations: Business, Service, Employees, Santa Locations: Santa Monica
Biswanath Panda, vice president of monetization engineering who reported to Khajehnouri, left the company in May after just a year in the role and joined Uber. Jacob Andreou, Snap's former senior vice president of product and growth, left after working there since 2015 and then joined Greylock. Vice president of product Peter Sellis left Snap in September after eight years, taking on a similar role with Discord. Snap in June hired Eric Young as its new senior vice president of engineering, with Khajehnouri then reporting to him. In addition to Young, Darshan Kantak joined as senior vice president of revenue product, Patrick Harris joined as president of Americas, Ronan Harris joined as president of EMEA, and Ajit Mohan joined as president of APAC.
Persons: Nima Khajehnouri, Khajehnouri, Evan Spiegel, Spiegel, he's, Jeremi Gorman, Peter Naylor, Jerry Hunter, Gorman, Ben Schwerin, Biswanath Panda, Uber, Jacob Andreou, Greylock, Peter Sellis, Hunter, Eric Young, Young, Darshan Kantak, Patrick Harris, Ronan Harris, Ajit Mohan Organizations: Snap, EMEA Locations: Snapchat
Snap stock rises as sales grow 5% from last year
  + stars: | 2023-10-24 | by ( Jonathan Vanian | ) www.cnbc.com   time to read: +3 min
Revenue : $1.19 billion vs. $1.11 billion expected, according to LSEG. : $1.19 billion vs. $1.11 billion expected, according to LSEG. Global Daily Active Users (DAUs) : 406 million vs. 405.7 million expected, according to StreetAccount. : 406 million vs. 405.7 million expected, according to StreetAccount. Average revenue per user: $2.93 vs. $2.74 expected, according to StreetAccount.
Persons: Evan Spiegel, Snap, Spiegel, Jerry Hunter Organizations: Inc, New Locations: , California, U.S
He is now vice president of engineering at Uber. Panda reported to Nima Khajehnouri, Snap's vice president of engineering, who has been at the company since 2015. Snap, however, recently hired Eric Young as its new senior vice president of engineering, with Khajehnouri now reporting to him. He joined Greylock earlier this year after being at Snap also since 2015 as its senior vice president of product and growth. Along with Patrick Harris in a newly created role as Snap's senior vice president of partnerships, and David Sommer as head of verticals.
Persons: Panda, Snapchat, Nima Khajehnouri, Khajehnouri, Jerry Hunter, Eric Young, Young, Hunter, Jacob Andreou, Peter Sellis, Darshan Kantak, Rob Wilk, Patrick Harris, David Sommer, Kali Hays Organizations: Uber, Google, Reuters, . Workers, Greylock, Microsoft, Meta, Facebook, Twitter Locations: khays
Adding older users to Snapchat is also a renewed focus, people told Insider. As Snap struggles to reverse slowing growth and improve its advertising business, parts of the company are operating with a "code red" mentality and more aggressively working to entice older users to join Snapchat. Snap wants Snapchat to 'Age Up'Still, workers are feeling pressure to deliver more revenue growth by the end of the year. For the second quarter, Snap posted revenue growth of 13%. During the fourth quarter of 2021, the company boasted user growth of 20% or more "​for five consecutive quarters."
Earlier this summer, Snap executives told managers they should put at least 10% of their teams on performance improvement plans. In a few weeks, Snap employees have gone from feeling relatively stable to joking that they now work at "Snapazon," a reference to the sometimes grueling, metric-heavy approach of Amazon. Snap is chopping the Snap Pixy mini drone, its accelerator program, Snap Originals, Snap Minis and its Games vertical. Other Snap workers expressed similar doubts about the company's acquisition strategy. AR likely will not be a major success story, despite Snap's leadership in the area.
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