New story in Technology from Time: Snapchat’s Stock Is Plunging Fast After it Said User Growth Is Slowing
Snapchat’s redesign isn’t working. In November, parent company Snap Inc. embarked on a dramatic reorganization of its mobile photo-sharing app to combat sluggish growth. But once the update reached all of Snapchat’s users in the first quarter, user additions and sales slowed even further amid a public revolt over the new design. Revenue gains in …