Is Snap's (SNAP) Snapchat "only for rich people," not for users in "poor countries like India and Spain?" According to some reports, that's what Snap CEO Evan Spiegel had said in the past, despite the company denying those reports.
Those reports were mentioned in a previous story on TheStreet. From that same story:
"The comments were made public by former employee Anthony Pompliano who is suing the company, claiming he was fired for raising concerns about misleading investors when Snap first went public.
Pompliano said he told Spiegel that Snapchat's international user metrics were 'very low,' and suggested ways to accelerate growth in those areas. The complaint alleges Spiegel interrupted him, saying 'this app is only for rich people. I don't want to expand into poor countries like India and Spain.'"
As a result, it's not too surprising to hear the calls for users to boycott the app and uninstall it. Similar protests have erupted over Uber and its string of PR nightmares throughout 2017.
While it's unclear whether this will actually impact the company's active user base, it's not a good look for a company that so recently went public. Notably though, the app's rating has taken in a hit in certain app stores.
Snapchat's response? "This is ridiculous. Obviously Snapchat is for everyone. It's available worldwide to download for free."
Shares of Snap closed at $19.94 Monday, down 1.2%.
The self-driving car theme remains alive and well -- and it's not just for tech companies. Although, don't tell General Motors (GM) that. The Detroit-based automaker plans to invest another $14 million into Cruise Automation, the self-driving research facility it acquired in San Francisco.
The plan includes hiring 1,100 employees to continue building out the developments it has made in this arena. It also calls for doubling the size of the current facility in the area.