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No Fear No Favour

Snapchat CEO, Evan Spiegel, Thinks India Is “Too Poor” To Use Snapchat.

As the whole of the world’s biggest tech giants are looking towards India and Indians as the biggest market for their finished goods, CEO of snap that, Evan Spiegel, feels that India is  “Too poor” to use Snapchat.

As reported by Variety, an ex-employee of Snapchat, Anthony Pompliano, said that during a user growth meeting in 2015, Evan Spiegel put emphasis on acquiring only premium users.

“This app is only for rich people. I don’t want to expand into poor countries like India and Spain,” CEO Spiegel had said, according to the ex-employee.

Pampliano had also sued the company for misleading investors by providing inflated statistics about user data. He alleges that in summer of 2015 when Snapchat had around 95 million active users the company showed the numbers of daily 100 million active users.

“Mr. Spiegel was inexplicably enraged throughout the meeting and refused to listen to anything Mr. Pompliano said, constantly cutting him off and summarily dismissing his points,” the lawsuit says.

He was hired by the company to grow the user base. When he saw the numbers he was worried as the growth was only 1 to 4% in past few quarters. Pompliano was later fired by the startup citing ‘Poor performance’ reasons.

Recently, Instagram stories surpassed Snpachat in terms of the number of daily users. Instagram had introduced the feature in August 2016. Snapchat’s parent company Snap Inc. also filed for an IPO earlier this year.

Snapchat unredacted lawsuit by gmaddaus on Scribd:

You can read it HERE




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