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Snapchat Loses 3M Daily Active Users in 3 Months

From Endgadget:

According to the Snap’s second quarter earnings report, the number of daily active users have dropped from 191 million in the first quarter of the year, to 188 million. That’s a drop of 2 percent, or 3 million users, since the last quarter, and marks the first time that user count has dropped in the company’s corporate history.

Yikes. Looks like my prediction for a Snapchat sale happening in 2019 is fast approaching after all.

Scott Galloway weighs in:

So, what to do? Simple, sell. Only Snap is a terrible investment and a nightmare for investors, as the firm is controlled, via two-class stock, by a 28-year-old who is already a billionaire, so he is a terrible fiduciary for shareholders, as he will not sell to the highest bidder. There are only two relevant criteria for who will acquire Snap:

Galloway goes on saying “It can’t be Facebook,” and that much is for certain — and who would Evan Spiegel even work for after an acquisition? Galloway has his sights on Disney or Amazon, and honestly I don’t see Iger making a play for Snap. But it could happen. Disney could use a pick-me-up for their teenage audience.

Amazon is the more likely bet, simply because they have the capital and the current CFO is an Amazonian Alum. They could (and would) monetize the absolute shit out of the Snapchat app. It would, undoubtedly become the QVC of the appverse. 

A sort of fitting end to a superficial ephemeral “social-network.”