New Year, New Snap
Starting today, select Snapchat users can now personalize and prioritize content most important to them with Snapchat’s new algorithm. Instead of sorting content by reverse chronological order, the app will mold itself to what each user wants and watches most. This new makeover will hit the rest of the world in a few weeks. “We are separating the social from the media, and taking an important step forward towards strengthening our relationships with our friends and our relationships with the media,” Snapchat CEO Evan Spiegel said. One major change to the app is the Friends page. A single Friend tab will now contain both stories and private messages from your closest friends. Group chats will even get their own group story in case Snap Map wasn’t enough to stalk your friends. (Source: TechCrunch)
Hear from Spiegel himself in The New Snapchat in 60 Seconds video!
Blue Apron Needs More Spice
After going public in June, Blue Apron is losing its CEO, Matt Salzberg, who has decided to step down. Brad Dickerson, the current CFO, will take his place. Blue Apron shares closed yesterday at $2.99 (for reference, the company went public at $10 per share). Part of the company’s poor performance can possibly be attributed to Blue Apron’s costly new warehouse and Amazon’s acquisition of Whole Foods. Blue Apron markets itself as an easy way to cook gourmet food, but it must also consider the growing trend of meal delivery startups that are beginning to offer the exact same thing. What’s the recipe for profits again? (Source: TechCrunch)
Buzzfeed Makes Cuts
After missing their revenue marks in the last year, Buzzfeed plans to cut its business and sales departments by 8%. The company currently has 1,700 employees worldwide. CEO Jonah Peretti hopes to explore beyond native advertising in order to diversify revenue sources. “As our strategy evolves, we need to evolve our organization, too—particularly our business team, which was built to support direct-sold advertising but will need to bring in different, more diverse expertise,” Peretti said. Hopefully under this new mindset, Buzzfeed can fight against the duopoly of Facebook and Google (which accounted for over 63% of U.S. digital-ad spending this year) and pave their own path in the digital world. (Source: Wall Street Journal)