BREAKINGVIEWS-Evan Spiegel is the skunk at the founder’s party

Reuters09-13

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.)

By Jennifer Saba

NEW YORK, Sept 13 (Reuters Breakingviews) - The Snap architect blamed his $16 bln social media network’s stock slump on tepid ad growth. Self-awareness is a positive sign, and attention to detail is a creative plus. But after 13 years it might be time for Spiegel to seek outside help.

Full view will be published shortly.

Follow @jennifersaba on X

CONTEXT NEWS

Snap co-founder and Chief Executive Officer Evan Spiegel wrote a post on Sept. 3 explaining that the social media company’s share price lagged the market because advertising revenue was growing slower than Snap’s competitors.

“The growth of our digital advertising business is one of the most important inputs to our long term revenue potential, and investors are concerned that we aren’t growing faster,” he wrote.

Investor and Y Combinator co-creator Paul Graham wrote a blog post in September arguing for the merits of startup founders staying involved in the business rather than switching to hiring outside managers and becoming more hands off as the company grows.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic: Meta's shares outperform Snap's

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

(Editing by Lauren Silva Laughlin and Sharon Lam)

((For previous columns by the author, Reuters customers can click on jennifer.saba@thomsonreuters.com))

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