Shulou(Shulou.com)11/24 Report--

In the morning of Sept. 8, Beijing time, Snap CEO Evan Spiegel wrote to all employees this week that the company plans to continue to expand its revenue and user base next year, after a sharp fall in share prices and brutal layoffs.

In an email sent to employees on Sept. 6, Spiegel said the company aims to increase the number of Snapchat users by 30% by next year, to 450 million, and boost revenue to $6 billion in 2023. According to the plan, $350 million of revenue will come from recently launched Snapchat paid services that unlock the extra features of Snapchat. Snapchat is expected to have 4 million paying users by the end of this year.

"previously, we saw the challenges ahead and adjusted accordingly," Spiegel wrote. However, we are still hard hit in the face of the new economic reality of 2022. We did not expect soaring energy and food prices, high inflation and a 45-fold increase in the federal funds rate since September last year. We must have entered a new era, and we must adapt and overcome in order to succeed in this new reality. "

He also said that in order to achieve its goal of user growth, Snap will focus on "increasing penetration in at least one new large country or population group" and attracting more 30-to 40-year-old users to Snap. In addition, promoting more users to use Snapchat's "map" and "Spotlight" features "helps to make our services more attractive to the community, more difficult to replicate, more flexible in the face of competition, and will increase our profit opportunities in the long run".

A spokesman for Snap has confirmed the authenticity of the internal email.

Snap recently cut 20 per cent of its jobs and cut back on a number of teams and projects as a whole, such as the recently launched camera drones. Still, Spiegel says Snap is committed to developing augmented reality technology. He believes that augmented reality "represents the next important development in the computer industry," while Snap's next generation of Spectacles AR headers are under development.

Spiegel said: "it is important to maintain a leading position in augmented reality, which will help us build a lasting competitive advantage." Such advantages come from long-term investment, overcoming technical difficulties, and developing a platform that is increasingly difficult to replicate. This also enables us to benefit from the next major platform transformation, from mobile phones to wearable computing devices. Leading this transformation will be one of our most meaningful contributions to human progress, helping people express themselves, live in the present, understand the world, and have fun together. "

Spiegel's email also mentions some other important information:

-Snap expects the average amount of time users spend on content to increase by 10 per cent by 2023.

-by 2023, 35% of users will interact with Snapchat's "map" feature every day, and 30% will use "Spotlight" function every day. "Spotlight" is a TikTok competitor service developed by Snapchat.

-Snap plans to generate $6 billion in revenue and at least $1 billion in free cash flow by 2023.

Snap hopes augmented reality-based advertising will account for 10 per cent of total advertising revenue next year.

-Snap hopes to increase the number of users using its augmented reality effects ("filters") in other applications to 1 billion per month next year.

-Snap is setting up augmented reality Enterprise Services to sell its technology to other companies.

-Spiegel said, "We will help developers explore the possibilities of the next-generation Spectacles head show in a confidential manner," indicating that the next-generation head show will not be sold commercially yet.

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