Behind Snapchat's 'Remarkable' Turnaround and 23% Stock Spike | Analysis
When your stock price spikes 23% in a single day, you probably did something right. And in the case of Snap this week, the company did have a lot go right in the second quarter. But it wasn't always so rosy an outlook for the social media app. Just a few years ago, Snapchat appeared to be stuck in neutral, with shaky user growth and a seemingly-uneven business plan. The L.A.-based company, run by 31-year-old L.A. native Evan Spiegel, looked like it could end up becoming roadkill under Facebook's wheels -- especially after Facebook-owned Instagram copied Snapchat's best-known feature. More on that turnaround in a moment. But a combination of innovating advertising products, creating original shows and listening to user complaints propelled what analysts say is a long-term shift for the better. Let's start with what just happened: Snapchat posted perhaps the best quarter in the company's history on Thursday, with the app adding 13 million new users -- pushing Snapchat to 293 million daily users overall, while also reporting that revenue more than doubled from the same time last year. Snapchat shared this slide on Thursday with investors, showing the company's user growth This came from significant advertising growth....
Read original story Behind Snapchat's 'Remarkable' Turnaround and 23% Stock Spike | Analysis At TheWrap
