Nov 13, 2018

Snap content lead exits after 5 years

Photo by Roy Rochlin/Getty Images

Snapchat VP of content Nick Bell is leaving the company, the executive told employees in a memo on Monday.

Why it matters: Bell was instrumental in building out Snapchat's content platform, Discover, and for creating shows that would resonate with younger audiences who like to consume short videos vertically on their phones.

The details: Under Bell's leadership, Snapchat launched a suite of original shows, including Good Luck America, which just announced it received over 10 million views on election night this year.

Between the lines: Bell's departure comes amid a company reorganization announced last month, which includes a new head of strategy, former HuffPost CEO Jared Grusd, who will be overseeing content.

The bigger picture: Snapchat has lost several high-profile executives since it went public in 2017, including its chief strategy officer Imran Khan, its chief financial officer Drew Vollero, and others.

  • The company has hired a few well-known replacements, including Grusd and former head of advertising at Amazon Jeremi Gorman.
  • Investors have become bearish about Snap's growth potential, as Facebook continues to copy Snap's key features, like Stories and augmented reality lenses. As a result, Snap's stock is currently trading at less than $7, which is roughly one quarter of the price it went public at last spring.
  • The company has since been through many transitions, including a redesign and an advertising product overhaul that has grown its ad revenue from zero to $1 billion in roughly two years.

Cheddar's Alex Heath first reported the news.

Go deeper

The rematch of the century

Illustration: Eniola Odetunde/Axios

The weekend's biggest sporting event is Wilder-Fury II, which despite its name is not an action movie sequel starring Jean-Claude Van Damme but, rather, a boxing match starring arguably the two best heavyweights in the world.

The backdrop: In their first meeting in December 2018, Deontay Wilder and Tyson Fury put on a memorable show at Staples Center, with Fury surviving a brutal right hand in the 12th round to earn a split-decision draw.

Pro-Trump warrior takes the helm of U.S. intelligence

Richard Grenell in Berlin. Photo: Sean Gallup/Getty Images

By picking Ambassador Richard Grenell to be acting director of national intelligence, President Trump has slotted a pro-Trump warrior into the ultimate apolitical role.

What they're saying: James Clapper, the longest-serving DNI (2010-2017), tells Axios it's "very worrisome installing a partisan with no real intelligence experience in this position."

Coronavirus kills 2 Diamond Princess passengers as Israel confirms first case

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship — as Israel confirmed its first case among evacuees from the ship.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 76,000 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

Go deeperArrowUpdated 57 mins ago - Health