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19m832l29lkhjrΒ inΒ Β 
Software EngineerΒ 5 months ago

Snap is laying off 20% of employees

Snap is cancelling several projects and letting go of people. Not a great sign for the company: https://www.theverge.com/2022/8/31/23330123/snap-layoffs-announced-original-shows-canceled-games-mini-apps

Snap is canceling several projects and laying off 20 percent of employees

Snap is canceling several projects and laying off 20 percent of employees

In a memo to employees, Snap CEO Evan Spiegel said that 20 percent of employees would be laid off and that Snapchat would end its original shows, in-app games, Pixy camera drone, and Zenly app.

theverge.com
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undertoneSoftware EngineerΒ 5 months ago
Snap is closing down Zenly as a part of this announcement as well. With only 4 million installs, Snap acquired them in 2017 for a rumored $250-350 million. As of right now, Zenly has 40M MAUs and is still expanding, according to the personnel there. In Japan, Southeast Asia, Eastern Europe, and the Nordics, Zenly was quite popular, and competed directly with Line to be the most popular social app in Japan. Seems like an interesting choice to simply shut it down, perhaps just as a way to hone in and focus on core app. They could have sold it off, but I'm assuming they don't want to hand over fuel for competition. If that is the case, that is a very zero sum mindset view though.
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