Some 375 million daily users worldwide.
For Snapchat, which saw its number of followers climb by 17% in 2022, popularity is no longer a guarantee of financial success.
This week, the parent company of the social network, Snap, indeed unveiled its weakest growth (12%) since its IPO on Wall Street in 2017, with revenues of 4.6 billion dollars in 2022. And net losses increased to 1.4 billion, three times more than last year.
On Wall Street, its valuation lost more than 13% on Wednesday, reaching $16 billion.
The debacle at Snap, which recently laid off 1,200 employees, does not bode well for rivals Meta and Google, which are releasing their results this week.
More than ever, the giants of Silicon Valley mourn the golden age of their main source of income: digital advertising.
2022 marked the end of a decade of uninterrupted growth in advertisers' ad spend…
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