Gadgetory

snap just posted a staggering 2.2 billion dollar loss in its first earnings report here are three things we learned about snapchats parent company snapchat vs. Facebook is like dog vs. cat although the app was the first to have those puppy dog ears Facebook's being copycatting a lot of snapchats features ever since just take a look at Instagram stories Facebook stories and the Facebook camera with all those face filters the imitation game is hurting snapchat while daily active users total 166 million Instagram stories which was released in August last year skyrocketed to 200 million one investor on the call asked the CEO if he was scared of Facebook Spiegel laughed it off and said quote at the end of the day just because Yahoo has a search box it doesn't mean they're Google in quote way to throw some shade speaking of shades those spectacles are not so spectacular for the company's bottom line snap sold 12.5 million dollars worth of the sunglasses with a camera over two quarters if you do the math that's only ninety six thousand units given that they're sold for 130 dollars each despite all the hype long lines at the snap-loc vending machines and exorbitant resale prices on ebay snap still couldn't sell that many units and we found out that snapchatters sent three billion snaps every day but only five million snaps overall have been posted from spectacles so that's less than 0.1% in its initial SEC filing the company said developing for Android wasn't a priority because most of its users run iOS but most of the world's phones run Android Spiegel acknowledged that they've had a tough time with the operating system and it's quote still showing up in the numbers the company is working on an improved Android experience now bear in mind that this was snaps first earning report so it's still early days for the company but as for that share price well let's just say investors weren't rushing to snap up any more