Can Snap Seize The Moment?
Bloomberg Businessweek|August 27, 2018

Nobody trusts Facebook. Twitter is a hot mess. Can Evan Spiegel keep Snapchat from disappearing?

Sarah Frier
Can Snap Seize The Moment?

On the second floor of the new headquarters of Snap Inc. in Santa Monica, Calif., is a room dedicated to helping employees open up. It’s round and lined with potted plants. “Speak from the heart,” reads a framed sign on the wall. “Listen from the heart.” Employees show up in groups of about a dozen, sit cross-legged on black cushions, and take turns with the “talking piece,” a heart-shaped purple geode that gives the bearer the right to confidentially share deep thoughts.

This is the inner sanctum for what Snap calls “Council,” a sort of New Age corporate retreat that uses a technique Chief Executive Officer Evan Spiegel learned in childhood. It was also where I found myself on a Friday morning in July. Council meetings, I’d been told by the company’s communications chief, are “sacred.” They’re also a real-life example of what Spiegel wants people to do with his smartphone app, Snapchat: share intimately, without fear of judgment from the outside world.

As an app, at least, it’s a compelling idea. Snapchat’s disappearing posts, Stories, as they’re known, are wildly popular with teenagers, especially in the U.S.—so popular that Facebook Inc. has made the concept a core part of its own services, most notably Instagram. Unfortunately, Snap is having trouble capitalizing on the opportunity.

This should be Spiegel’s moment. Facebook is in the middle of a series of privacy-related scandals. Twitter and YouTube, Snapchat’s other big competitors, have seemed overrun by some combination of Russian bots, ISIS recruiters, and/or conspiracy theorists. In this context, Snapchat would appear to be well-positioned as an alternative. There’s no fake news, and the company’s emphasis on disappearing content means it stores much less data than its competitors do.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BLOOMBERG BUSINESSWEEKView all
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 mins  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 mins  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 mins  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 mins  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ mins  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ mins  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 mins  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 mins  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 mins  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 mins  |
March 20 - 27, 2023