My kids hate the Snapchat redesign. Apparently, a bunch of other people do too.
Snapchat's first quarter results[1] featured revenue of $230.66 million, up 54 percent from a year ago. But the net loss of $385.78 million.
Revenue fell short of expectations. Why? Call it the redesign from hell. Snapchat is trying to juggle monetization vs. customer needs. Good luck with that.
Not surprisingly, Snapchat's conference call revolve around--you guessed it--the company's redesign.
CEO Evan Spiegel kicked off the festivities:
We have known for a long time that creating public-facing content is a very different behavior from interacting with close friends, which makes it challenging for both to exist successfully in the same ecosystem. Before the redesign, Stories were sorted by recency, meaning that people who post most frequently were usually at the top of the list. Naturally, the most frequently posting users tended to be people who create content as part of their job compared to users who are just sharing their day with friends. As our community continue to grow, keeping friends and creators in the same feed made Snapchat feel less personal because close friends were constantly buried below creators. We addressed these issues by separating friends from creators and by making it easier to find Stories from the people closest to you. Now personal friends no longer have to compete with creators, and people can find Stories based on the depth of their relationships rather than who is posting most often. We also built a new home for creators in a newly expanded Discover section. This enables us to properly invest in products, discovery and monetization for our creators while also supporting a larger variety of content on Snapchat. The redesign lays the foundation for the future of