Seems like a small one. Anyone know the backstory? https://www.theverge.com/2018/1/18/16906974/snap-layoffs-content-team-app-redesign-brands-video-partners-snapchat-app
It's a sinking raft
Snap is done.
Ooooops snap!
Is two dozen a lot?
Snap is the next zynga
Two dozen isn't a lot and this is more of a reorg (moving the team away from locations outside of LA, while growing this team still in LA/transferring employees from NYC to LA).
They didn't sell while they could. Unlike Facebook, the network effect and lock-in is way harder to achieve for a product like theirs Cash out or sell out
I bought 20k worth of feb 9 puts yesterday... snap is a godsend. Never been made easier money
How much did you make?
Waiting until feb 6 earnings, havent sold them
Wow that’s like 10% of their headcount
It's a sinking ship (yes, coming from an IBM employee)
Yes, but big ships like Microsoft and IBM sink ever more slowly than small ones...
Neither ibm or msft ever sank, other bigger ships came along but these two still out there, likely would be there for a while.