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Snap Inc.'s Snapchat app added fewer users than projected in the first quarter, a sign that the young company may have trouble expanding its audience as Facebook Inc. copies its most popular features.
With demand for JPY and bonds increasing, can earnings from Australia's biggest market weight play a stronger influence on the ASX 200? This video was produced in commercial partnership between Fairfax Media and IG Markets.
With hundreds showing up for a chance to work at Amazon's fulfilment centres in the US, the e-commerce giant has made offers to some applicants on the spot.
Tesla burned through less cash than expected before rolling out the Model 3, giving Elon Musk some financial leeway to pull off his mission of bringing electric cars to the masses.
Snap Inc.'s Snapchat app added fewer users than projected in the first quarter, a sign that the young company may have trouble expanding its audience as Facebook Inc. copies its most popular features.
Inside holders, such as executives and investors from the company's days as a private start-up, are barred from selling their shares for a certain period after the IPO. JPMorgan Chase had estimated that as many as 400 million shares could be sold in the first lock-up expiration.
While some early investors are finally able to cash out on their holdings, putting more stock into the market also puts pressure on the price.
Snap, the maker of the Snapchat app for sending fun, disappearing photos and videos, has already seen its value decline since the IPO.
Investors have voiced concerns that Snap won't be able to grow its user base quickly enough to claim a strong position in an increasingly competitive digital advertising market, especially as Facebook's properties copy some of Snapchat's most compelling features.
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"Sentiment around Snap remains at ghastly levels," Brian White, an analyst at Drexel Hamilton, wrote in a note to investors this month.
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Snap, the maker of the Snapchat app for sending fun, disappearing photos and videos, has already seen its value decline since the IPO. Photo: Bloomberg
Snap reports earnings for the second time as a listed company on August 10.