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Could Snapchat’s Profit Warning Make it a Takeover Target?

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Snapchat Adds 13 Million More Users in Q1, Sees Steady Increase in Revenue

Not a great day for Snapchat.

Yesterday, the company issued a guidance note to the SEC which advised that Snapchat’s overall revenue would miss the targets that it communicated in its Q1 earnings update, which it reported just last month.

Enligt Knäppa:

"Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will report revenue and adjusted EBITDA below the low end of our Q2 2022 guidance range.”

Given the various disruptions around the world – from the war in Ukraine, to the ongoing pandemic, to labor shortages in several regions – it’s not a huge surprise that Snap is facing tougher operating conditions in this respect. But the fact that Snap has issued this guidance so soon after announcing its targets is a concern, and points to, as Snap notes, a rapidly changing landscape, particularly for platforms that rely on European income and brand reklam-.

The market was quick to respond, with Snap shares declining by as much as 41%, erasing $15 billion in market value from the company.

But it wasn’t just Snap that was impacted. Given Snapchat’s guidance, and the expanded impact that these same factors will likely have for other social apps, Meta, Twitter, Google and Pinterest all also saw declines, with billions chipped off the value of digital reklam- providers.

Annons

What the full impacts of the current market conditions will be, we don’t know, but the assumption is that Snap’s not alone in taking a substantial hit on reklam- spend, while also battling rising costs, amid the fluctuating economic situation, primarily across Europe.

The decline has opened the door for various avenues of speculation, including what it will mean for Twitter, currently in the midst of a takeover by Elon Musk, and whether Snap, at a lower price than its 207 IPO, could now attract new suitors looking to get in on the AR wave.

One of those suitors could actually be Meta – which seems unlikely, especially given the pressure the company is under over previous anti-competitive takeover activity. But it could be a way for Meta to buy up a significant player in the AR market, as part of its broader metaverse push.

Meta, of course, offered $3 billion to acquire Snapchat back in 2013, as the app was on its initial rise, which Snap CEO Evan Spiegel notoriously declined. And while almost a decade has passed since then, Snap’s presence in the space is still significant, while its nous for AR development, and viral trends based on the same, is unmatched, which could be an attractive lure for Meta, which will soon be looking for the best angles to pitch its own AR glasögon to the masses.

Meta Spectacles would likely sell a lot more than Ray Ban Stories, and any variation of the same, while the added power of Meta would significantly boost Snap’s own AR ambitions.

To be clear, there are no internal leaks or rumors that suggest that this is going to happen, but at a low ask, and on the brink of the next stage of digital connection, Snap will no doubt be an enticing proposition to various potential suitors.

Snapchat also continues to grow, and in its SEC guidance note, it also points to future potential:

“We remain excited about the long-term opportunity to grow our business. Our community continues to grow, and we continue to see strong engagement across Snapchat, and continue to see significant opportunities to grow our average revenue per user over the long term.

Annons

As a result of the current challenges, however, Snap will slow its pace of hiring for the rest of the year, which could eventually impact the development of its own AR tools and options, as others continue to advance in the space.

But again, all platforms reliant on digital ads will likely be feeling the same pinch, and it’ll be interesting to see if others follow

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Meta Publishes New Report on the Increasing Consumer Reliance on Business Messaging

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Meta Publishes New Report on the Increasing Consumer Reliance on Business Messaging

Messaging has become an increasingly important connective tool for many businesses and consumers, with more than 20 billion messages now sent between people and brands on Messenger alone every month. It’s convenient, generally sees quick response, and is available within the apps that people are already comfortable with for their direct interactions. In fact, 64% of people now say they would prefer to message rather than call a business.

With this in mind, Meta recently partnered with de Boston Consulting Group on a survey of more than 6,500 respondents across the APAC region, in order to glean more insight into how APAC users are looking to use messaging for brand queries, and how businesses can better align with these shifts.

The 29-page report, which you can download här, includes a range of valuable insights into the importance, and value, of messaging interactions. Here’s a look at some of the key notes:

First off, the report looks at the growing adoption of business messaging, and how that’s changed throughout the pandemic.

The global lockdowns led to a significant boost in eCommerce activity, and as such, it’s little surprise to see the reliance on business messaging rise in recent years. But that’s also a key trend of note for brands – as more consumers conduct more of their interactions via messaging, and other online means, that, in turn, increases their expectation of the same options from other businesses.

The report also provides a somewhat surprising look at how often people are messaging with brands:

Meta messaging report

That’s a lot of activity, which seems more impactful than the raw numbers, in terms of messaging volume. A lot of consumers are interacting with brands every other day, so it’s not just that they’re using this as a supplementary connection channel, it’s fast becoming an essential connector for businesses.

The report also looks at the different ways in which brands can use messaging within their process:

Annons
Meta messaging report
Meta messaging report

As well as the key pain points for consumers when messaging with brands:

Meta messaging report

There are some interesting insights here, worth factoring into your planning. Really, if you’re not offering direct messaging as a connective option, or optimizing for it, you’re likely missing out. And while this data is APAC specific, most of these trends would likely hold in other regions as well, which could give you some food for thought for your planning, particularly as we head into the holiday sales push.

You can download Meta’s full ‘Business Messaging: The Quiet Channel Revolution across Tech’ report här.

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