Breaking Down Snapchat’s Disappointing First Quarter
The social media platform Snapchat released its first earnings report since its initial public offering in March. The numbers disappointed investors. Their public shares immediately fell almost 25 percent after the news was released. It’s raising questions for investors as to what other initial public offerings this year might look like, especially for tech companies. Shira Ovide is a journalist at Bloomberg. She says there are pros and cons to Snapchat’s strategy of targeting younger users.