Time has changed and while the world is looking upto India for several investment and business opportunities, popular Social media firm Snapchat thinks otherwise. In a recently made statement, Snapchat CEO Evan Spiegel termed India as a poor nation to expand the business.
Spiegel’s remark came to the forefront when the lawsuit filed by the ex-employee Anthony Pompliano was revealed. Pompliano was a facebook employee who was appointed by Snapchat to increase the user database, but was fired soon after. As per the lawsuit, it is said that the incident happened in 2015 when he had expressed concerns in regards to the app which was and is said to have not made a mark in the overseas market. To this, Spiegel had abruptly quoted that “this app is only for rich people. I don’t want to expand into poor countries like India and Spain.”
This statement has caused an uproar on social media platforms. Users took to twitter to express their concerns and opinions. It is also said that while filing for an IPO, Snapchat had presented the inflated metrics about user data, and the firm has been sued for the same by Pompliano.
As per the reports, Pompliano has stated that “Snapchat was inflating its registration completion rate, which it claimed was about 87 percent. In fact, it was less than 40 percent. The company was also claiming to retain 40 percent of its users after seven days when in fact the figure was closer to 20 percent.”
If reports are to be believed, Snapchat had around 4 million users in India in 2016, and the numbers only seem to have increased since then. Well, India has snapped today with this comment. Will the Indians ‘snap’ further, remains a question!