SNAPCHAT – BACKCHAT
rujokinggrandad.co.uk BLOG 24th FEBRUARY 2018
THOUGHTS FOR THE DAY
The head of Snapchat, Evan Spiegel, is to be the US’s highest paid chief executive of 2017 — according to the Financial Times.
He is to receive $638m (£457m). But the paper suggests the timing of the payout could be awkward following the messaging app’s stock price slump, after users complained about its redesign.
Apparently reality TV star Kylie Jenner wiped $1.3bn (£1bn) off Snap’s stock market value after tweeting that she no longer used its Snapchat messaging app.
Celebrity Kim Kardashian’s half-sister posted: “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”
Snap’s shares sank after Ms Jenner’s tweet about Snapchat’s re-design to her 24.5 million Twitter followers.
One million people signed a petition demanding Snap roll back the change.
After dropping almost 8%, shares in Snap closed 6% down on Wall Street, and are now back near the $17 price at which the shares were listed when the company floated on the stock market.
Snapchat is facing intense competition from Facebook’s Instagram – especially for celebrity users – and Ms Jenner’s attack comes at a time when investors are already worried.
Ms Jenner later tweeted a follow-up: “still love you tho snap… my first love”.
Snap has rejected complaints about November’s re-design to its messaging app, with its boss Evan Spiegel saying earlier this month that users just needed time to get used to it.
Mr Spiegel’s salary is thought to be the third-highest annual package ever received by a company’s chief executive.
The remuneration was, however, heavily boosted by the award of shares when the company listed on the stock market.
Mr Spiegel’s basic salary for last year was a more modest $98,078.
The package trails the 2007 and 2008 compensation for Daniel Och, head of hedge fund Och-Ziff Capital Management.
He received annual packages of $918.9m in 2007 and $1.19bn in 2008.
INSPIRATIONAL QUOTE FOR THE DAY
One small positive thought in the morning can change your whole day
Happiness is…Saturday…Saturday…Saturday even when you are retired and every day is a Saturday
GRANDAD’S ONE LINER JOKE OF THE DAY
Television is a medium because anything well done is rare.—Fred Allen
Love is…dozing together in front of the TV
TRACK OF THE DAY
GHOST – ELLA HENDERSON
Highest Chart Position: No.1 15th June 2014