Snap Inc. hasn’t been doing well. The company has posted massive losses, and its platform is not growing. Here comes Snapchat’s redesign.
Especially since its IPO, Snap Inc. has been showing very disappointing financial results, and as expected this is making everyone nervous – especially investors. Much-hyped initiatives like Spectacles haven’t done much to change that. In order to compete against the other big platforms, Snapchat is changing, with the app getting a total redesign soon.
After announcing Snap’s “train wreck” financial results at its earnings conference call, CEO Evan Spiegel also announced that the company is finally listening to all those people who find Snapchat difficult to understand or hard to use. It’s bringing on a new design that will hopefully make it easier to use. This move could offend its most hardcore users, and could “disrupt” business in the short term.
However, Spiegel says that he’s “willing to take that risk,” if it means bringing new users. Additionally, Spiegel also announced that it will begin a new monetisation system that would help content creators make money from their Stories.
The new design is rolling out sooner rather than later though. An anonymous source has tipped Business Insider off that it could even roll out within the next month, on December 4. The redesign will bring ease of use, and changes to the way users can discover new content on the platform, and will also use AI to deliver content that is personalised to each user.
Finally, Lens Studio will roll out to more users next year, in order to “democratize Lens creation so that anyone anywhere can create and publish their own Lenses.” No news on what Snap’s going to be doing with all its unsold Spectacles.
You might also like
More from Snapchat
The new Ticketmaster Snap Mini will allow Snapchat users to find nearby events on the map, and tap on them …
Snapchat is introducing a new way to keep track of where your friends are by seeing their real-time location on …
Snapchat will now let you change your old username without compromising aspects of your account, like friends list, Snap codes, …
Snapchat has announced the beta test of mid-roll ads in Snap Star Stories, a new monetization feature for creators.
Snapchat has improved its AR shopping Lens offering by adding new Shopping Lenses that display details about products.
Snapchat is updating its app with new tweaks to personalize the in-app experience and make it more fun and engaging.
The holiday market will feature AR experiences from Coca-Cola, Hollister, Prime Video, Under Armour, Verizon, and Walmart.
Snapchat's new "Multiple Formats" delivery option will allow advertisers to combine multiple video ad formats into a single ad set.