Snap Inc. is a US based technology and camera company that is behind the iconic Snapchat mobile app. Founded by Evan Spiegel and Bobby Murphy in 2012, the company has made waves by revolutionizing the way people communicate with each other. Snap Inc. recently reported a 7% decrease in revenue and had its stock plunge over 20% in after-hour trading for its first quarter of 2021. The lackluster earnings were due to changes by Apple, as well as increased competition from the likes of TikTok and YouTube. In order for the company to bounce back, Snap Inc. has made strategic decisions, such as offering subscriptions and offering their AI-powered product, My AI. At the same time, larger tech companies like Facebook's parent Meta are reporting revenue increases.
Meta is an enterprise solutions provider that specializes in helping organizations build and succeed, with solutions for performance, trust and security, governance, and content intelligence. Elizabeth Holmes, founder of the now-defunct Theranos, faced charges of fraud but managed to overturn an 11-year jail sentence. Posh launches platform for event management and ticketing, while a UK startup has developed tools for usage-based billing and just secured $14 million. Get the top news stories each day in your inbox with The Daily Crunch.
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Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?