[ad_1]
And if so, does that mean startups will see cheap growth?
Hurry up, parent The popular Snapchat social media service company reported earnings last week that investors rejected. On the heels of its second-quarter financial report, Snap shares rose from $16.81 on Thursday afternoon, ahead of the earnings report, to $10 a share this morning.
Snap’s lackluster earnings weren’t the only casualty of the appetite — other companies that make money from ad revenue have seen their stock prices drop on fears that the social network isn’t an outlier. Alphabet, Meta and Pinterest also fell in value ahead of earnings announcements as investors lowered expectations for ad-based revenue.
The exchange examines startups, markets and money.
Read it every morning on TechCrunch+ or get the Exchange newsletter every Saturday.
The news is important given the number of mega-tech companies bidding on the ad market. The fact that startups are chasing ads as a monetization lever and concerns about the health of ad spend are driving tech companies big and small.
[ad_2]
Source link
