Snapchat CEO recently got the “few-days fame” because of calling India a “Poor” country and the Indians were so furious with him that Snapchat ended up getting enormous amount of 1-star ratings on Play-Store. And Now, the same guy has trolled Facebook CEO and Founder, Mark Zuckerberg.
On the occassion of Snapchat’s first earnings call as a public company on Wednesday, Wall Street had a particularly burning question for Snapchat CEO cum Founder Evan Spiegel, “Does Facebook scare you?” asked Richard Greenfield, an analyst at BTIG.
But following an earnings reportsheet that came in below analysts’ expectations on sales, profit and user growth which helped prompting Snapchat stock to plummet nearly 25% after-hours towards its IPO price of $17, the 26 years old Spiegel literally laughed at the question.
Greenfield had prefaced his query by noting that Facebook (FB, -0.17%) CEO Mark Zuckerberg had announced a new camera feature with augmented reality last month, positioning the social media company in a direct competition with Spiegel’s Snapchat, which describes itself as a camera company.
But Spiegel replied with a simple answer-
“At the end of the day, just because Yahoo has a search box, it doesn’t mean they’re Google,” Spiegel said.
CEO Spiegel also added that Facebook was actually imitating Snapchat and he even expected other companies to do the same too!
“If you want to be a creative company, you’ve got to get comfortable with and basically enjoy the fact that people are going to copy your products if you make great stuff,” he said. “Now I think with Snap, we believe that everyone’s going to develop a camera strategy.”
Well Spiegel, thats kinda true that something which the major social media brands today are following was created by you but its also true, Instagram Stories and WhatsApp stories are more loved than Snapchat’s version. People are actually using Instagram Stories in big numbers and the stats are going higher and higher everyday. You better stop feeling proud or its gonna be too late soon. Just like Apple created PCs, Others overshadowed them. Simple.