Snap stock falls as alleged CEO comments rile some on social media: HumSub.TV
Snap stock falls as alleged CEO comments rile some on social media: HumSub.TV: Shares of Snap fell 1.5 per cent on Monday as the Snapchat owner faced criticism for comments allegedly made by its CEO about not prioritising growth in India and Spain because they were “poor” countries.
The dip put Snap on track to close at its lowest level in nearly a month, a bad sign following its $3.4 billion public listing that was the hottest by a technology company in three years.
Twitter users using the #boycottsnapchat hashtag called for uninstalling the Snapchat app after a legal document unsealed last week alleged that Snap Chief Executive Evan Spiegel in 2015 said he was uninterested in prioritising growth in India and Spain because they were “poor”.
The legal document filed in a Los Angeles state court concerns claims made in a lawsuit filed by an employee who left the company in 2015, and Snap has said it considers the litigation to be a publicity stunt.
“This app is only for rich people. I don’t want to expand into poor countries like India and Spain,” Spiegel is alleged to have said.
“Those words were written by a disgruntled former employee. We are grateful for our Snapchat community in India and around the world,” Snap said in a statement.
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. Snap has warned it may never become profitable.
Its stock was down 29 cents at $19.90. Shares of Snap have fallen 26pc from their highest closing price following the public listing, and they remain up 17pc from the company’s $17 IPO price.
Snap stock falls as alleged CEO comments rile some on social media: HumSub.TV
Snap stock falls as alleged CEO comments rile some on social media: HumSub.TV
Snap stock falls as alleged CEO comments rile some on social media: HumSub.TV
About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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