Stories

Report: Snap chasing profitability by year-end

Snap CEO EVan Spiegel. Photo: Steve Jennings/Getty Images for TechCrunch

Snap CEO Evan Spiegel sent a company-wide note to employees "several months ago" outlining a zealous goal to break even in 2018, according to The Information.

Why it matters: It's a very ambitious goal considering Snap lost $720 million last year and analysts expect the company to continue to lose money this year. While the company has been steadily increasing its average revenue per user, it has invested some cash flow into other parts of its business, like marketing and research and development, which has eaten at its profitability.