Genius or hubris? Why turning down Facebook may be Snapchat’s big mistake | Technology | The Guardian

Genius or hubris? Why turning down Facebook may be Snapchat's big mistake | Technology | The Guardian

Genius or hubris? Why turning down Facebook may be Snapchat’s big mistake | Technology | The Guardian

For years Snapchat was seen as David to Facebook’s Goliath, but it looks as though the underdog has lost its swagger.Shares in the messaging app’s parent company Snap fell sharply this week after one of the investment banks that helped to take the company public downgraded its stock.Morgan Stanley had initially been bullish about Snap’s stock price, suggesting it would be worth $28 per share within 12 months, but five months on, and with concerns over Instagram, it has revised the price to just $16 – sending ripples of concern through the market.“Snapchat was executed over the last year with a treasure chest of self-inflicted blunders caused by big egos and a lack of strategic focus,” said Eric Schiffer, CEO of private equity firm The Patriarch Organization.

Källa: Genius or hubris? Why turning down Facebook may be Snapchat’s big mistake | Technology | The Guardian

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