Snapchat denies its CEO labeled India as 'poor'

19 April, 2017, 11:15 | Author: Randy Kelley
  • Snap Faces Backlash Over Alleged Emerging Market Comments- The Motley FoolMore

In the document, Pompliaono, who was the company's growth lead for a few weeks in 2015, recounts a September 2015 meeting he had with the CEO regarding Snapchat's worldwide growth plans.

The dip put Snap on track to close at its lowest level in almost a month, a bad sign following its $3.4 billion public listing that was the hottest by a technology company in three years.

The comments, allegedly made by Evan Spiegel, 26, Snapchat's billionaire chief executive, at a meeting in 2015 and revealed in a continuing lawsuit against the company, have provoked indignation across India. Hashtags like #BoycottSnapchat and #Uninstall Snapchat have also started trending on Facebook and Twitter.

San Francisco: In an apparent reaction to Snapchat CEO Evan Spiegel's purported disinterest in expanding business to "poor countries" like India, Facebook CEO Mark Zuckerberg said Facebook is for everyone and not just for "the high end". "Obviously Snapchat is for everyone! I don't want to expand into poor countries like India and Spain", Spiegel is alleged to have said. The spokesperson also said that those words were written by their former employee in a lawsuit for his case.

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Snapchat is popular among people under 30 for applying bunny faces and vomiting rainbows onto selfies, but many investors are critical of its slowing user growth.

Others hit back by rating the app just one out of five to try to bring down its average app rating.

It was even rumored that Indian hackers retaliated by leaking 1.7 million Snapchat users' data on the "dark web", but these reports have not been verified. Snapdeal, an e-commerce platform that actually happens to be based in India, received a number of one-star ratings and many uninstalled the unrelated "snap app".

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