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MarketScreener Homepage  >  Equities  >  Nyse  >  Snap Inc    SNAP

SNAP INC (SNAP)
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Snap : Snapchat design overhaul fetches 83% negative reviews

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01/14/2018 | 01:05am CEST

IANS

SAN FRANCISCO

A major design overhaul introduced by popular photo-sharing platform Snapchat has not been received well by its initial users in countries such as Britain, Australia and Canada, with up to 83 per cent of reviews on the Apple App Store being negative.

"The most referenced keywords in the negative reviews include 'new update', 'Stories' and 'please fix'," TechCrunch reported.

Only 17 per cent, which is 391 of the reviews, gave the app three to five stars.

Irate users took to Twitter to express their concerns and raise questions on how to switch to the older version of Snapchat.

"It's not possible to revert to a previous version of Snapchat, but we are happy to help with any questions you may have about the new layout," Snapchat's Support account @snapchatsupport tweeted in reply to a user's query.

Users have complained about struggling to find their favourite features and that the app has become more confusing.

Evan Spiegel, co-founder and CEO of Snap Inc, which is the parent company of Snapchat, announced redesigning the app to separate media and social communications in November 2017.

The entire redesign was done in-house, a spokesperson was quoted as saying.

(c) 2018 Qatar Tribune. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 1 156 M
EBIT 2018 -820 M
Net income 2018 -1 397 M
Finance 2018 1 094 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 9,23x
EV / Sales 2019 7,05x
Capitalization 11 764 M
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Mean consensus HOLD
Number of Analysts 35
Average target price 11,5 $
Spread / Average Target 25%
EPS Revisions
Managers
NameTitle
Evan Thomas Spiegel Chief Executive Officer & Director
Michael M. Lynton Chairman
Tim Stone Chief Financial Officer
Robert C. Murphy Director & Chief Technology Officer
Steven Michael Horowitz Vice President-Technology
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